Swiss Bankers Avoid Prison, Get Probation for Tax Fraud
Source: Associated Press
ALEXANDRIA, Va. — Mar 27, 2015, 12:44 PM ET
Two former Swiss bankers avoided jail time Friday for their roles in a tax fraud scheme that helped U.S. customers hide billions of dollars in assets.
Prosecutors in U.S. District Court in Alexandria recommended probation for the two men, Andreas Bachmann and Josef Dorig. The two were among eight former employees of Zurich-based Credit Suisse and its subsidiaries who were indicted in 2011. The other six remain at large.
Bachmann and Dorig voluntarily came to the U.S. to face charges and have cooperated with prosecutors' investigation. Last year, Credit Suisse pleaded guilty to aiding U.S. tax evaders and agreed to pay about $2.6 billion to the U.S. government and regulators.
The recommendation for probation came despite the fact that federal sentencing guidelines called for prison terms of more than four years.
Read more: http://abcnews.go.com/US/wireStory/swiss-bankers-probation-tax-fraud-29949537
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