C Suisse may pay $1.6bn to resolve tax evasion case

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Credit Suisse is in talks with the U.S. Justice Department to pay as much as $1.6bn to resolve an investigation into the bank's role in helping Americans evade U.S. taxes, a person familiar with the matter said on Monday.

Reuters reports that prosecutors have also been pushing for Credit Suisse to plead guilty in connection with the probe, two people with knowledge of the talks said.

The penalty would exceed the $1.02bn that Credit Suisse has set aside to pay potential penalties to the United States.

It's also much tougher than the settlement the Justice Department reached in 2009 with Swiss banking giant UBS, which was also accused of helping Americans dodge taxes.

To access the complete Reuters article hit the link below:

Credit Suisse in talks to pay $1.6 billion in U.S. tax probe 

UBS pledges special dividends to revamp legal structure 

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