Credit Suisse To Pay €150M In German Tax Shelter Probe

Law360, New York (September 19, 2011, 3:23 PM EDT) -- Credit Suisse AG agreed Monday to pay €150 million ($206 million) to settle a long-running German investigation into tax evasion allegations against some employees, as the financial giant continues to fight off similar criminal charges in the U.S.

The bank said it planned to pay the sum to the Public Prosector’s Office in Dusseldorf, Germany, in the third quarter of 2011, putting an end to the investigation.

“Credit Suisse welcomes this outcome,” the company said. “A complex and prolonged legal dispute has been avoided, with an...
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