As the Swiss government launches a potential rescue operation for troubled banking giant Credit Suisse, it’s worth remembering the massive levels of fraud the bank has been accused of over the last several years.
In 2014, the bank pleaded guilty to charges of tax fraud from the U.S. Department of Justice after admitting to helping American taxpayers file fraudulent returns and hide funds offshore.
In 2017, Credit Suisse agreed to pay $5.38 billion for making false and irresponsible representations about residential mortgage-backed securities.
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And in 2022, a whistleblower leak from within the bank revealed, at best, epic failures of due diligence on the part of Credit Suisse.
The leak revealed the bank repeatedly pursued, opened and maintained accounts for high-risk clients involved in torture, drug
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