Credit Suisse Agrees to Pay $2.5 Billion for Tax Evasion

Published 05/19 2014 06:13PM

Updated 05/19 2014 06:15PM

Credit Suisse pleads guilty to criminal charges related to tax evasion. Attorney General Eric Holder announces the bank will pay $2.5 billion in fines and restitutions.

This comes after the Swiss bank admitted to helping clients hide money from the IRS. The plea deal does not force the bank to reveal the names of those who hid the money.

Credit Suisse in the past has blamed illegal activities on a few rogue bankers.

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