Ex-Credit Suisse Client Arrested in 35-Year Tax Scheme, US Says.

CREDIT Suisse Group AG ; UNITED States. Dept. of Justice ; UBS AG 022700199 UBS

A Brazilian-American businessman named Dan Rotta has been arrested and charged with using Swiss banks, including Credit Suisse and UBS, to hide over $20 million in assets from US tax authorities for 35 years. Rotta allegedly hid these assets in secret bank accounts and did not report the income on his tax returns. He has been charged with conspiring to defraud the US and making a false statement to the IRS, and could face up to five years in prison on each count. The Justice Department is also investigating whether Credit Suisse violated a 2014 plea agreement related to helping Americans evade taxes. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)