Credit Suisse surprised by tax-evasion probe
Dutch authorities arrest two, seize gold bar, paintings and jewellery
Zurich/Amsterdam — Credit Suisse Group and its home country of Switzerland were surprised by a tax evasion and money-laundering investigation that spans five countries from Australia to the UK and potentially involves thousands of account holders. Two people were arrested by Dutch authorities, who had also seized a gold bar, paintings and jewellery and were still probing dozens more suspected of concealing millions of euros in Swiss accounts, the Netherlands’ Fiscal Information and Investigation Service said on Friday. Criminal investigations are also under way in France, Germany, the UK and Australia, and the roles of bank employees are part of the inquiries. "The sheer volume of data and its international scope makes this an exceptional case," said Thierry Boitelle, a lawyer with Bonnard Lawson in Geneva in Switzerland. The probes could jeopardise CEO Tidjane Thiam’s efforts to focus Credit Suisse on wealth management and to boost capital depleted by fines for past misbehaviour. T...
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