New York’s top banking regulator sent a subpoena to Credit Suisse last week as he examines whether its private bank helped clients evade state taxes, a person with knowledge of the matter said.
Bloomberg News reports that Benjamin Lawsky, the superintendent of New York’s Department of Financial Services, sought records from the firm’s New York operations, including e-mails, travel records, calendars, payroll information and material on hard drives, according to the person.
He also is seeking information on Roger Schaerer, a former top manager at the New York office, and on executives who worked with Schaerer, the person said, asking not to be identified because the probe is confidential.
Lawsky opened the inquiry last month, asking the bank for documents, as well as materials gathered by the U.S. Senate’s Permanent Subcommittee on Investigations, which also has examined the bank. Credit Suisse has been looking to resolve an earlier federal investigation of its alleged role in helping Americans evade taxes, a probe that already prompted the bank to book more than $1bn in legal provisions and fines.
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