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Swiss bank helped clients hide nearly $5b: report

Updated: 2014-02-27 07:20
By Agencies in Washington ( China Daily)

Switzerland's second-largest bank, Credit Suisse, used elaborate measures to find wealthy clients and help an estimated 19,000 US customers evade US tax authorities, a scathing report from a US Senate inquiry said on Tuesday.

The report contains the results of a two-year Senate investigation and comes a day before the heavily anticipated questioning of Credit Suisse chief Brady Dougan and other top bank officials before the panel.

Bank figures suggest there were "nearly 19,000 US customers with hidden Swiss assets totaling nearly $5 billion" as of 2006, the Senate report said.

Swiss bank helped clients hide nearly $5b: report

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