Thousands of Credit Suisse Group AG’s U.S. clients still don’t know whether tax authorities will learn their identities as prosecutors work to conclude a three- year probe of how the bank helped them evade taxes.
Credit Suisse Group AG’s Chief Executive Officer Brady Dougan, under fire from U.S. lawmakers, apologized and deflected blame onto a small group of employees for helping clients hide billions of dollars from the Internal Revenue Service.
U.S. Deputy Attorney General James Cole will defend the Justice Department’s investigation into offshore tax evasion, promising lawmakers more action in the coming months after a Senate subcommittee reprimanded prosecutors for not being aggressive enough.
Credit Suisse Group AG helped American customers hide as much as $10 billion in assets from the Internal Revenue Service, more than double the amount previously known, according to a U.S. Senate committee.
Credit Suisse Group AG Chief Executive Officer Brady Dougan will testify this week at a U.S. Senate committee’s hearing on offshore tax evasion, increasing pressure on the largest of 14 Swiss banks under criminal investigation for helping Americans cheat on taxes.
The U.S. government took a step toward legitimizing the marijuana industry, allowing U.S. banks to offer accounts and other services to businesses in states where medical or recreational pot sales are legal.
The Justice Department’s push to extend legal protections to same-sex couples in civil and criminal matters is the latest example of U.S. Attorney General Eric Holder leading second-term social policy for the administration of President Barack Obama.
President Barack Obama installed James Cole as deputy U.S. attorney general, the nation’s second- ranking law enforcement post, by appointing him during the congressional recess to overcome Republican opposition.