C Suisse's $2.6bn tax probe concluded

Tax & Business Calculator

Credit Suisse's $2.6bn plea bargain resolving allegations it helped wealthy Americans avoid paying taxes was accepted by a federal judge, ending a three-year probe that helped upend Swiss bank secrecy.

Bloomberg News reports that the first global banking unit in more than a decade to plead guilty to a crime in a U.S. court, Credit Suisse was sentenced to pay the penalty today by U.S. District Judge Rebecca Beach Smith in Norfolk, Virginia.

'To afford deterrence is a very important factor here', the judge said at a hearing that lasted less than an hour. 'I adjudge Credit Suisse guilty'.

To access the complete Bloomberg News article hit the link below

Credit Suisse Judge Accepts $2.6 Billion Tax Plea Deal

Bad News Mounts for Chinese Banks. Funds Grow More Bullish

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

Register for Financial Markets News Alerts