Former C Suisse banker to plead guilty over tax charges

American courtroom

A former banker at a Credit Suisse unit facing a July 2011 indictment on a tax conspiracy charge is scheduled to plead guilty Wednesday in federal court in Virginia, according to court records.

Bloomberg reports that Andreas Bachmann, a Swiss citizen, was arrested yesterday and appeared in court in Alexandria, where a magistrate released him on bail. Bachmann and six other bankers at Credit Suisse are charged in the indictment with conspiring to help U.S. clients hide $4bn in assets from the Internal Revenue Service.

Credit Suisse is the largest of 14 Swiss banks under criminal investigation for helping Americans cheat the IRS. Bachmann’s plea follows a report by the Senate Permanent Subcommittee on Investigations, which said Credit Suisse helped 22,000 Americans hide as much as $10bn from the IRS.

To access the complete Bloomberg article hit the link below:

Ex-Credit Suisse Banker Bachmann Is Set to Plead Guilty 

EU Ministers Hold Line on Bank Failures as ECB Sees Risk

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts