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Credit Suisse to pay $234M to settle French tax fraud case


PARIS (AP) — French prosecutors say Credit Suisse has agreed to pay 238 million euros to settle tax fraud allegations. Prosecutors said Monday that the Swiss bank will pay $234 million in fines, damages and interest to France, whose investigators will close an inquiry launched in 2016 on possible charges of aggravated tax fraud laundering and illegal soliciting. French media have reported that Credit Suisse representatives courted wealthy French customers to persuade them to open accounts with the bank that weren’t declared to French tax authorities. Credit Suisse says it doesn’t acknowledge criminal liability. It’s the latest blow for the bank, which agreed a week ago to pay $495 million in a U.S. settlement over a yearslong dispute tied to mortgage-backed securities.

Article Topic Follows: AP National

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