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Credit Suisse in talks to pay $2b to resolve US tax probe: Source

Published on May 6, 2014 8:50 AM
 
A logo of Swiss bank Credit Suisse is seen on a building in Zurich on Jan 15, 2013. Credit Suisse Group AG is in talks with the US Justice Department to pay as much as US$1.6 billion (S$2 billion) to resolve an investigation into the bank's role in helping Americans evade US taxes, a person familiar with the matter said on Monday. -- FILE PHOTO: REUTERS

WASHINGTON (REUTERS) - Credit Suisse Group AG is in talks with the US Justice Department to pay as much as US$1.6 billion (S$2 billion) to resolve an investigation into the bank's role in helping Americans evade US taxes, a person familiar with the matter said on Monday.

Prosecutors have also been pushing for Credit Suisse to plead guilty in connection with the probe, two people with knowledge of the talks said.

A spokesman for Credit Suisse declined comment.

The penalty would exceed the 895 million Swiss francs (S$1.28 billion) that Credit Suisse has set aside to pay potential penalties to the United States.

 
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