Credit Suisse probed in Italy in tax eva­sion case

The Pak Banker - - COMPANIES/BOSS -

MI­LAN: Credit Suisse Group is un­der in­ves­ti­ga­tion in Italy in con­nec­tion with a case look­ing into al­le­ga­tions that the bank helped wealthy clients trans­fer un­de­clared funds off­shore, Ital­ian ju­di­cial sources said on Wed­nes­day. Credit Suisse of­fices in Mi­lan were searched by Ital­ian po­lice in De­cem­ber 2014 as part of an in­ves­ti­ga­tion by Mi­lan pros­e­cu­tors. The en­quiry re­gards an al­leged fraud­u­lent sys­tem used to trans­fer up to 14 bil­lion euros ($15.33 bil­lion) to off­shore ac­counts mainly through the use of in­sur­ance poli­cies, the ju­di­cial sources said.

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