Whistleblowers may receive up to $150 million for exposing Credit Suisse’s continued role in helping Americans evade taxes, as reported by the Wall Street Journal.
The bank had pleaded guilty to similar misconduct in 2014 and promised to stop the practice. However, a recent plea deal shows it had opened more than two dozen potentially tax-dodging accounts and helped US citizens hide a total of $4 billion from authorities since then. Prosecutors say Credit Suisse bankers falsified records and coached clients to conceal their US citizenship. Credit Suisse, now owned by UBS, agreed to pay $511 million and was placed on probation for three years.
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