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Report: Credit Suisse 'aided' U.S. tax evaders

Feb 26, 2014, 7:30 AM EST
Members of the youth organization JUSO of the Swiss Social Democrats (SP) take part on November 2, 2013 in front of a branch of Swiss bank Credit Suisse in Zurich to a demonstration in favour of their imitative '1:12' to limit the amount of money companies pay their managers.
AFP/Getty Images

Credit Suisse "helped its U.S. customers conceal their Swiss accounts" and avoid billions of dollars in American taxes, a report has alleged. It claims the bank opened Swiss accounts for more than 22,000 US customers, with assets totalling $12bn (£7.2bn) at their peak. The report alleges bankers helped clients create offshore shell entities and design transactions to avoid arousing suspicion.
Background:
Credit Suisse 'aided' U.S/ tax evaders [BBC]
Credit Suisse helped clients hide billions from IRS - Senate report [CNN]

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