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Credit Suisse whistleblowers say bank has been helping Americans dodge U.S. taxes

By Eric Sterling
Published in Financial Planning
March 29, 2023
1 min read
Credit Suisse whistleblowers say bank has been helping Americans dodge U.S. taxes

So, I just read this crazy article about Credit Suisse. Apparently, some whistleblowers are accusing the bank of helping Americans dodge taxes in the U.S. It’s pretty wild stuff.

Basically, the article says that Credit Suisse has been helping its American clients stash their wealth in Swiss accounts for years, in order to avoid paying taxes back home. The whistleblowers claim that the bank has helped these clients set up shell companies and other shady business deals in order to hide their money from the IRS.

Now, I’m no tax expert, but this seems pretty fishy to me. I mean, I know I wouldn’t want to mess with the IRS. But apparently, some rich folks are willing to go to extreme lengths to avoid paying their fair share.

It’s not just Credit Suisse, either. It seems like a lot of big banks have been caught up in similar scandals over the years. It’s crazy to think about how much money is being hidden away in these offshore accounts.

At the end of the day, this is a really important issue. Tax evasion is illegal, plain and simple. And when wealthy individuals and big corporations get away with it, that means less money going into public services that we all rely on. So, it’s good that these whistleblowers are speaking out and shining a light on this kind of shady behavior.


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