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Credit Suisse agrees to pay £234m in France to settle tax evasion and money laundering investigation
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Credit Suisse has agreed to pay £234 million in France to settle a tax evasion and money laundering investigation
Credit Suisse has agreed to pay £234 million in France to settle an investigation into tax evasion and money laundering. The troubled Swiss bank is alleged to have urged wealthy French clients to move their assets to Switzerland.
Credit Suisse was accused by French authorities of encouraging wealthy customers in France to open bank accounts in Switzerland between 2005 and 2012, which were then beyond the reach of the French tax authorities.
Credit Suisse will make a strategy announcement this week to end years of scandals and losses that have dented confidence. Last week it agreed to pay £438 million to settle a case involving the sale of residential mortgage-backed securities.