In the agreement reached with the French financial prosecutor’s office, the bank will pay a total of 238m euros, CS announced on Monday. The amount consists of a profit of 65.6 million, a fine of 57.4 million and a compensation payment to the French state of 115 million euros.
In criminal proceedings in France, Credit Suisse was accused of helping French customers evade taxes. It’s about crimes that are said to have taken place between 2005 and 2012. The agreement with the French financial prosecutor’s office has been revealed. This was reported in the media last Friday. However, CS wrote that the agreement did not include recognition of criminal liability.
The bank thus shelves another case. On Thursday, a US jury acquitted him of allegation of currency manipulation between 2007 and 2013. And shortly before that, it had reached a settlement with the US authorities in connection with securitized residential mortgages. Cost point here: US$495 million.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
