(Bloomberg) Former Credit Suisse Group AG bankers have told criminal investigators that the bank is still helping U.S. clients hide accounts from the Internal Revenue Service, even after the firm paid $2.6 billion in penalties in 2014 and promised to stop the practice.
Credit Suisse Tax Whistle-Blowers Urge U.S. to Punish Bank
This content was published on March 11, 2021 - 09:38
March 11, 2021 - 09:38
(Bloomberg) Former Credit Suisse Group AG bankers who blew the whistle on their employer for helping wealthy Americans dodge taxes are now urging U.S. authorities to punish the bank beyond the $2.6 billion it paid as part of a guilty plea seven years ago.
A lawyer for the bankers wrote a letter to the Internal Revenue Service’s whistle-blower’s office last week that said the bank’s conspiracy continued “well after the plea agreement and sentencing” in 2014. Credit Suisse’s “misrepresentations and material omissions” about one wealthy American caused the bank to violate its plea agreement after the Justice Department and IRS agreed to reduce its fine by $1.3 billion, wrote the attorney, Jeffrey Neiman.
Ex-Credit Suisse CEO Thiam Raises $300 Million for Upsized SPAC
This content was published on February 26, 2021 - 09:12
February 26, 2021 - 09:12
(Bloomberg) Former Credit Suisse Group AG Chief Executive Officer Tidjane Thiam raised $300 million for his blank-check company after boosting the size of the deal.
Thiam’s Freedom Acquisition I Corp. sold 30 million units at $10 apiece in its U.S. initial public offering, it said in a statement Friday. The special purpose acquisition company, which is targeting deals in the financial services industry, was earlier targeting to raise $250 million.
The strong demand shows how industry veterans can trade on their strong name recognition to raise cash at a time when SPACs are booming like never before. Freedom Acquisition’s units, which represent one Class A ordinary share and one-fourth of a redeemable warrant, will start trading Friday on the New York Stock Exchange under the “FACT.U” ticker.
Ex-Credit Suisse CEO Thiam, Pimco Team Up for $250 Million SPAC
Bloomberg 2/10/2021 Jan-Henrik Förster and David Hellier
(Bloomberg) Former Credit Suisse Group AG Chief Executive Officer Tidjane Thiam is teaming up with Pacific Investment Management Co. for a blank-check company that’s seeking to raise $250 million.
Freedom Acquisition I Corp. plans to offer 25 million units at $10 apiece in its U.S. initial public offering, it said in a filing Wednesday. Pimco, the investment unit of Allianz SE that manages about $2 trillion of assets, is a co-sponsor of Freedom Acquisition and plans to buy as much as 9.9% of the offering.