Story perspectives

Credit Suisse Settles $511M for $4B IRS Concealment

5/6/2025

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Summary

Story summary

Credit Suisse Services AG admitted guilt in concealing over $4 billion from the IRS, resulting in a $511 million settlement.
The conspiracy spanned from 2010 to 2021, breaching a 2014 U.S. plea agreement.
UBS, which acquired Credit Suisse in 2023, is cooperating with investigations and opposes tax evasion.
Whistleblowers played a vital role in uncovering misconduct and securing the settlement.
Senator Ron Wyden called for greater accountability in tax evasion cases.

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Story summary

Credit Suisse Services AG admitted guilt in concealing over $4 billion from the IRS, resulting in a $511 million settlement.
The conspiracy spanned from 2010 to 2021, breaching a 2014 U.S. plea agreement.
UBS, which acquired Credit Suisse in 2023, is cooperating with investigations and opposes tax evasion.
Whistleblowers played a vital role in uncovering misconduct and securing the settlement.
Senator Ron Wyden called for greater accountability in tax evasion cases.