Credit Suisse Pressed by Senator on $200 Million Tax Fraud (1)

April 27, 2021, 3:43 PM

Credit Suisse Group AG, already under pressure for losing $5.5 billion in the collapse of Archegos Capital Management, must now answer questions from a powerful U.S. senator about a seven-year-old tax evasion scandal.

Senate Finance Committee Chairman Ron Wyden wrote Tuesday to Credit Suisse and the Justice Department, asking their leaders to explain how the lender’s banking unit could have pleaded guilty in May 2014 to enabling U.S. tax evasion but failed to disclose more than $200 million in accounts held by an American.

Senator Ron Wyden
Photographer: Tasos Katopodis/Getty Images/Bloomberg

Wyden asked Credit Suisse Chief Executive Thomas Gottstein and Attorney General Merrick Garland ...

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