Credit Suisse to admit ‘criminal’ actions in US tax dispute

Swiss is expected to sign the document bank avoid criminal prosecution in the US

Geneva: Swiss banking giant Credit Suisse is set to sign a document admitting it had unwittingly run a “criminal enterprise” in its past wooing of US tax dodgers, media reported on Sunday.

“We were running a criminal enterprise, but we didn’t know,” reads the document cited by the SonntagsZeitung weekly.

Switzerland’s second largest bank was expected to sign the document, obtained by the paper from lawyers close to the case, in a bid to avoid criminal prosecution in the United States, it reported.

The conditions for resolving the bank’s tax dispute with Washington could be published as early as Monday, the paper said.

The bank itself refused to comment on Sunday’s report.