IRS Indicts Four Credit Suisse Bankers

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Four Credit Suisse bankers were indicted on charges of conspiring to help Americans evade taxes amounting to as much as $3 billion. All four, Marco Parenti Adami, Emanuel Agostoni, Michele Bergantino and Roger Schaerer, are believed to be in Switzerland. A warrant of arrest has been issued on all of them, all of whom except Adami are Swiss. Adami is Italian. Whether the Swiss government would cooperate and allow extradition of the bankers is not known at this point.

The bank itself was not indicted nor was its name mentioned offcially but public documents unconnected to the case identifed some of those indicted as Credit Suisse employees. According to the indictment, bank officials “knew and should have known that they were aiding and abetting US customers in evading their U.S. income taxes.” In fact, in the indictment, prosecutors allege that the conspiracy has been going on for a number of years, as far back as 1953. Even up to late 2008, Credit Suisse was maintaining thousands of accounts belonging to American taxpayers with as much as $3 billion in assets.

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