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Tax probe: Credit Suisse raided, client assets seized

Staff Writer |
Credit Suisse Group, the second-largest Swiss wealth manager, faces a sweeping tax evasion and money laundering investigation spanning five countries.

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Investigators in the Netherlands arrested two people and seized assets, and are probing dozens more suspected of concealing millions of euros in Swiss accounts, the Fiscal Information and Investigation Service said.

Criminal investigations are also underway in Australia, Germany, the U.K. and France and the roles of bank employees are part of the inquiries.

The tip that triggered the investigation came from one or more informers to a team in the FIOD, the criminal investigation service of the Dutch Tax and Customs Administration.

The five countries coordinated their actions through the European Union’s Judicial Cooperation Unit, which said in a statement that the investigation started in 2016 and that further actions are likely in the next few weeks.

The raids were done without informing authorities in Switzerland, that country’s attorney general’s office said in a statement. The Swiss aren’t conducting a criminal probe into the matter.

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