The agreement was validated on Monday by the president of the Paris court, a week after the settlement of a dispute in the United States.
The second Swiss bank never stops settling the setbacks of the past. Struggling Credit Suisse agreed on Monday to pay France 238 million euros to avoid a lawsuit for “aggravated laundering of tax evasion” between 2005 and 2012. It signed a legal agreement in the public interest (CJIP) with the National Financial Prosecutor’s Office (PNF). The procedure allows companies to pay a fine for acts of corruption or laundering of tax evasion, without being officially declared guilty. In 2017, HSBC was the first bank to sign such an agreement. Accused of the same grievances as Credit Suisse, it paid 300 million euros to France.
For Credit Suisse, the case began in April 2016. At the time, after receiving reports in the context of mutual financial assistance for laundering tax evasion and illegal bank solicitation, the financial prosecutor’s office launched an investigation. Investigations revealed that 5,000 French clients had had a Credit Suisse account for many years, which had not been declared to the French tax authorities. The hidden assets amounted to 2 billion euros.
The Last Chance Plan
Last week, Credit Suisse had already paid a fine in the United States dating back to the past. She agreed to pay 495 million dollars to the American justice for a litigation concerning securities backed by mortgages.
The current week will be decisive for the former flagship of Swiss finance, in the midst of a crisis. Thursday, he will present the last chance plan supposed to put him back on the water after a series of scandals.