On June 9, 2023, two people sit under a sign of credit suicide displayed on a building in Lugano.
Fabris Cofterini | AFP | Getty images
Loan Services AG on Monday convicted and will pay around $ 511 million to settle a criminal case to plot with rich American Taxpayers To hide at least 475 offshore accounts more than $ 4 billion, Department of Justice Said.
In addition to that petition, UBS The assistant company entered a non-exercise agreement with prosecutors in relation to American accounts, booked in Credit Suisse AG Singapore.
“Between 2014 and June 2023, Credit Suisse AG Singapore organized undisclosed accounts for American individuals, which Credit Suisse AG Singapore knew or we should have known, the total assets with total assets were more than $ 2 billion,” Dose Said.
The DOJ said that criminal conspiracy, in which Credit Suisi accepted the guilt, allowed “Ultra-Haha-Net-World and High-Net-World Client” Swiss The Financial Services Corporation to remove its US tax obligations from 2010 to 2021.
“In doing so, Credit Suisse AG committed new crimes and violated it May 2014 petition agreement With the United States, “the department said.
In 2014, Credit Suisse blamed taxpayers for helping the IRS hide offshore accounts, and paid $ 2.6 billion to settle the case. It was the largest payment in a criminal tax case at that time.
The firm on Monday convicted a count of a conspiracy to assist and assist in preparation for false income tax returns US District Court in Alexandria, VirginiaAccording to a court filing, tax loss from accounts in the United States was more than $ 71 million, and the affiliated revenue of credit suis from accounts was more than $ 108.6 million.
The DOJ stated that Credit Suisse and UBS “needs to cooperate fully with” ongoing investigation and reveal any information positively that can later expose the US-related accounts. “
“Agreements do not provide any protection to any person,” DOJ said.
The argument comes after over two years Senate Finance Committee An investigation by the panel found that the credit suis was “entangled with the ongoing tax evasion by the Ultra-Dhani Americans … which includes the already unknown, running and potential criminal conspiracy, which includes failure to disclose approximately $ 100 million in a single family of American taxpayers.”
Florida Neemon, a Florida Attorney, who represented Whistleblover in the matter, in a statement, his customers stated that this ongoing malpractice of violation of the original plea deal was “exposed and exposed.”
Neemon said that his customers, all former credit suis bankers provided information to the DOJ, IRS and Senate for more than a decade, the bank’s violation of the bank’s 2014 petition agreement.
“Great personal risk and potential prosecution by Swiss authorities, he provided the government
With detailed evidence: Name, social security numbers, and passports of American-linked account
The holder whose property had been hidden for decades, “Neeman said.
“They turned on internal documents, including account details and emails, and even shared intelligence on movement and travel
Bankers, which allowed federal agents to function rapidly and effectively. ,
“For almost a decade, whistleblower waited for the moment,” he said.
“Today, they feel vandal – to tell the truth, to put everything at risk, and to stand for one of the world’s most powerful financial institutions.”
A charging document filed on Monday against Credit Suisse says that this bank does wrong to hide the record of American ownership and accounts, some American accounts owners “as non-US persons”, “As a processed fantasy paperwork,” as “to maintain more than 100 accounts by Swiss Vakils,” and services for services “and services” and services ” “More services” and services to complete services “and to maintain services,”
One of the detailed works in that charging document was an American citizen and the Credit Suisse allowing the Rochetter Business Professor of the East University to allow the Professor of the East University. And horski After changing the beneficial ownership of assets, for a relative who was not AA American citizens, and other works allowed Horsky to avoid paying taxes on property.
Horski, who said federal prosecutors that one of his foreign accounts was $ 200 million, convicted for tax-related crimes in 2016 was sentenced In 2017, in jail for seven months in jail, and $ 100 million was paid the penalty.
Credit Suisi’s original company, Swiss bank UBSOne in statement On Monday, it said that it was “not involved in the underlying conduct and is zero tolerance to tax evasion.” UBS acquired Credit Suisse in 2023.
The bank said, “With this resolve, UBS has solved one of the inheritance issues of Credit Suisse, in a fair and balanced manner with the intention of UBS and in the intention of resolving heritage matters in the best interest of all its stakeholders,” the bank said.
“In the second quarter of 2025, UBS Group AG is expected to identify a credit from partial release of contingent liabilities established with the acquisition of Credit Suisse as part of the procurement price allocation process,” the statement said. “UBS AG is expected to record a fee in the second quarter regarding this resolution.”
“This colony fully explains the findings of my investigation, stating how Credit Suisse hide more than $ 700 million for rich Americans in violation of his deal to avoid prosecution,” Sen Ron Widen said in a statement on Monday, “Sen Ron Widen said in a statement on Monday.
“Ultra-toe and shady Swiss bankers should not get a free pass to cook offshore tax evasion schemes when regular Americans are paying their proper part,” Viden said.