Credit Suisse pleads guilty in tax evasion probe

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Credit Suisse Group has pleaded guilty to criminal charges that it helped Americans evade taxes and will pay USD 2.5 billion as part of an agreement with U.S. authorities.

US attorney general Eric Holder said the bank helped US "tax cheats dodge US taxes".

Credit Suisse managed to save its banking license in the US.

Meanwhile, neither Credit Suisse chairman Urs Rohner nor chief executive Brady Dougan are expected to lose their jobs as a result of the settlement.

Read more about: credit suisse
Story first published: Tuesday, May 20, 2014, 12:30 [IST]
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