Credit Suisse Pleads Guilty To Conspiring To Aid Tax Evasion

By: Tuesday May 20, 2014 10:38 am

It has finally happened, a Wall Street firm has pleaded guilty to a felony. Credit Suisse, to address criminal activity that occurred for decades, pleaded guilty to one count of conspiring to aid tax evasion. The firm will also pay a fine of $2.6 billion and have an independent monitor for two years. Credit Suisse [...]

Report: Swiss Banks Used ‘Cloak And Dagger’ Tactics To Avoid US Tax Law

By: Wednesday February 26, 2014 5:58 am

Names’ Bond, Municipal Bond. According to a new report by the Senate avoiding taxes has become absurdly clandestine with Swiss bankers using “cloak and dagger” methods when advising their clients. Swiss banking giant Credit Suisse used every trick in the book to help 22,000 of its US customers evade the law. While some of the [...]

National Credit Union Administration Sues Wall Street Banks For Fraud In Mortgage Market

By: Tuesday September 24, 2013 7:47 am

The National Credit Union Administration (NCUA), a government regulator, has filed a lawsuit against Morgan Stanley, Barclays, JPMorgan, Credit Suisse, Royal Bank of Scotland Group, and UBS for selling fraudulent mortgage-backed securities to credit unions. The sales of these securities amounted to $2.7 billion. Goldman Sachs, Wachovia, Wells Fargo, and Ally Securities also allegedly sold [...]

Schneiderman Files Suit Against Credit Suisse for Securities Fraud, Days After SEC Settled Same Conduct

By: Tuesday November 20, 2012 11:55 am

Continuing on the theme of prosecutions for fraud during the housing collapse, though in this case civil rather than criminal ones, New York Attorney General Eric Schneiderman just announced a new lawsuit against Credit Suisse for defrauding investors in its mortgage backed securities business. The case mirrors the previous suit filed by Schneiderman against JPMorgan [...]

JPMorgan Chase, Credit Suisse Don’t Have to Admit Wrongdoing in Another SEC Settlement

By: Friday November 16, 2012 2:45 pm

In another in a long line of weak settlements where the perpetrators of fraud don’t have to technically say whether or not they’ve committed it, the Securities and Exchange Commission reached agreement with JPMorgan Chase and Credit Suisse on a collection of violations related to the handling of mortgage backed securities. JPMorgan Chase and Credit [...]

Criminal Indictments in Credit Suisse Case Investigated Four Years Ago… By the Bank

By: Wednesday February 1, 2012 6:29 am

We open the day by hearing about criminal indictments for bond traders. Federal prosecutors are preparing to file criminal charges against former Wall Street traders alleging they misstated the value of mortgage bonds, an issue central to the 2008 financial crisis, according to people familiar with the matter. The Manhattan U.S. Attorney’s office is planning [...]

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