Taxman raids Credit Suisse

JEWELLERY, fine art and gold bullion belonging to super-rich clients of Credit Suisse have been seized in a major money laundering and tax evasion inquiry.

The Swiss bank’s London offices were raided as part of a global criminal investigation into senior employees and customers. Around 55,000 bank accounts are thought to be under investigation.

It was part of a series of linked raids in the UK, Australia, Germany, and France, examining whether customers had savings which were not declared to tax authorities. And Dutch officials swooped on offices in the Netherlands to seize records, along with the houses of several clients, in an probe into dozens of wealthy people. They confiscated property, jewellery, an expensive Mercedes car, fine art and a gold bar. Two arrests were made and two suspects were questioned.

The raids are a fresh blow for the lender and its mega-rich boss Tidjane Thiam after a string of scandals. But the move sparked fury in Switzerland, which relies on financial services for much of its wealth.

A HMRC spokesman said: ‘The international reach of this investigation sends a clear message that there is no hiding place for those seeking to evade tax.’