Credit Suisse close to tax evasion deal
Credit Suisse may be pressed for a guilty plea as it attempts to settle a US tax evasion probe
The US is pressing for guilty pleas from the parent companies of banks under investigation, including Credit Suisse Group AG, in a marked departure from the past, according to a person familiar with the negotiations.
Whether prosecutors would be willing to accept a guilty plea from a smaller unit rather than insisting on the bank holding company has been debated since authorities started speaking this year about imminent criminal actions in speeches, tweets and even a video this week from the US Attorney General.
Credit Suisse is trying to settle a US tax evasion probe that could include a penalty of more than $1 billion, according to another person familiar with the talks. All the people asked not to be identified because the talks are confidential.