U.S. indicts three Credit Suisse bankers

[cory777]

Source: Reuters

U.S. authorities indicted three Credit Suisse AG private bankers, one a senior executive, on Thursday, toughening their stance against the bank for allegedly helping wealthy Americans to evade taxes.

Federal prosecutors in Alexandria, Virginia, filed criminal charges against Markus Walder, the former head of North America Offshore Banking and a former senior Credit Suisse executive; Susanne D. Rüegg Meier, a former manager; and Andreas Bachmann, a former banker at a subsidiary of the bank. Also charged was Josef Dorig, the founder of a Swiss trust company that worked with the bank.

While the charges did not name the bank in question, a government person briefed on the matter identified it as Credit Suisse.

Asked about the indictment, Victoria Harmon, a spokeswoman for Credit Suisse, said in a statement that "Credit Suisse is committed to a fully compliant cross-border business. Subject to our Swiss legal obligations and throughout this process we will continue to cooperate with the U.S. authorities in an effort to resolve these matters."

Read more: http://www.reuters.com/article/2011/07/22/us-creditsuisse-bankers-indictment-idUSTRE76K6S620110722

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Activist News http://activistnews.blogspot.com/

[aquart]

1. Good Lord. This...this...is ACTION.

Oh, look! Someone named Bachmann.

No, really. I'm so shocked I think I have to lie down.

[Mnemosyne]

2. And war criminals walk free... K&R n/t

[Dover]

3. I was just wondering today what had happened with all the talk about collecting

from and penalizing the tax evaders and offshorers.

I'm still curious whether we'll ever see the names of all those who have not complied with
the amnesty rules set in place last year to pay back taxes and not be prosecuted.

I also wonder what the very wealthy who have paid up and removed their funds from these
havens are doing with their cash stashes? Will they be forced to invest it or will they
find another way to store somewhere? It's not secure in American banks beyond the 200K
cap for FDIC (if I recall correctly).

[sarcasmo]

4. How many American bankers have been indicted

[pampango]

5. AFP: Four indicted on helping US taxpayers hide assets

http://www.google.com/hostednews/afp/article/ALeqM5hiO_jQu_tSrScX5huOfk_0jdj34A?docId=CNG.bd5fc592df044e02e92b3ac83ab64f59.c91

The US Justice Department Thursday charged three former Credit Suisse bankers and a Swiss trust company founder with helping wealthy Americans evade US taxes by keeping money in secret Swiss bank accounts.

The indictment did not mention Credit Suisse by name, since it was the individual bankers, not the bank itself, who were indicted.

According to the indictment, the four bankers "engaged in illegal cross-border banking that was designed to assist US customers evade their income taxes by opening and maintaining secret bank accounts at the bank and other Swiss banks."

They also advised their US customers to make their withdrawals in amounts less than $10,000 in order to try to hide the secret bank accounts and transactions from US authorities. If convicted, each defendant could face up to five years in prison and a maximum fine of $250,000.