Andreas Bachmann, a former banker at a Credit Suisse Group, has agreed to plead guilty in relation to a July 2011 indictment for helping rich Americans to evade taxes.
Bachmann, who was accused on a charge of conspiracy for helping US clients hide US$4 billion in assets from the Internal Revenue Service, will plead guilty in federal court in Virginia.
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Bachmann was arrested and released on $200,000 bail by the magistrate after appearing in court in Alexandria.
However, he is expected to cooperate with the ongoing Justice Department investigation of Credit Suisse.
The pleas follows a recent investigation by the Senate Permanent Subcommittee, which found that Credit Suisse has held as much as $12 billion in assets for 22,000 US clients from the IRS.
The indictment said that Bachmann has provided unlicensed and unregistered banking services and investment advice to US customers who maintained undeclared accounts at banks in Switzerland.
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By GlobalDataAccording to the federal indictment, Bachmann and other former Credit Suisse bankers have helped customers transfer funds to offshore tax havens using specially created shell companies and other entities to hide assets from the IRS.
