Credit Suisse Helped Hide US Funds, Senate Panel Says

Law360, Los Angeles (February 25, 2014, 9:33 PM EST) -- Bankers at Credit Suisse Group AG came to the U.S. to recruit and do business with clients in secret, establishing a New York headquarters and setting up clients with middlemen companies to help them conceal some $14 billion in Swiss bank accounts, according to a U.S. Senate subcommittee report released late Tuesday.

The CEO, general counsel and two co-heads of private banking and wealth management at the bank are scheduled for a grilling by the Permanent Subcommittee on Investigations, the group led by Sen. Carl Levin,...
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