Nov
30
Credit Suisse Said to Freeze Accounts in Search for U.S. Assets
By-
U.S. prosecutors now asking why $200 million was hidden
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Bank said to be looking for indicators of U.S. accounts
Credit Suisse Group AG has frozen dozens of accounts as it tries to determine if U.S. clients are hiding money from the Internal Revenue Service after the firm pledged to come clean about secret assets, according to a person familiar with the matter.
The bank is looking at indicators such as phone numbers or powers of attorney to determine whether Americans are the true owners of accounts not disclosed to the IRS, according to the person, who wasn’t authorized to speak publicly about the matter. Any client activity on these accounts now requires approval by a group within Credit Suisse, the person said…
Credit Suisse Said to Freeze Accounts in Search for U.S. Assets
