Credit Suisse Offices Raided by Authorities From Five Different Countries

Chris Gaetano
Published Date:
Mar 31, 2017
By Rillke - Own work, CC BY-SA 3.0

Authorities from Netherlands, Britain, Germany, France and Australia conducted a series of coordinated raids on offices belonging to Swiss bank Credit Suisse as part of a massive tax evasion and money laundering probe concerning tens of thousands of account holders, according to the Guardian. The investigation concerns about 55,000 suspect accounts and so far has resulted in two arrests and the seizure of assets including a gold bar, paintings and jewelry. The raids were planned and implemented without any input, or even notice, to the Swiss government, according to Reuters. The Swiss Office of the Attorney General said in a statement that it found the raids, spearheaded by the Dutch, to be disconcerting and said it would be demanding an explanation. 

Credit Suisse is certainly no stranger to scandal. The raids come in the wake of a $2.6 billion fine paid to the U.S., a 109.5 million euro fine paid to Italy, and a 150 million euro settlement with the German goverment, all connected to findings that the bank had facilitated tax evasion in their countries, according to Bloomberg

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