6. Mai 2025|
AI
|7 months agoUBS Agrees to $511M Settlement in Credit Suisse Tax Probe
UBS reaches agreement with US authorities to resolve long-running Credit Suisse tax evasion investigation, closing a significant chapter in Swiss banking history.
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Generated IllustrationKey Takeaways
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- UBS Group AG agreed to pay $511 million to settle a US investigation into Credit Suisse's tax evasion practices.
- A Credit Suisse unit pleaded guilty to conspiring to help customers hide over $4 billion from the IRS.
- Credit Suisse breached its May 2014 plea agreement with the United States by committing new crimes.
- Credit Suisse helped a European billionaire and US resident hide assets despite public knowledge of his residency.
- Whistleblowers revealed a US-Colombian family held nearly $100 million at Credit Suisse for a decade.
By The Numbers
$511 million
Settlement amount
$4 billion
Hidden assets
475
Offshore accounts
$1.3 billion
Previously estimated hidden assets
They Said
"Credit Suisse committed new crimes and breached the May 2014 plea agreement with the United States."
"Ultra-wealthy and shady Swiss bankers shouldn’t get a free pass to cook up offshore tax evasion schemes when regular Americans are paying their fair share."