Credit Suisse client pleads guilty to tax evasion

WASHINGTON/CLEVELAND, March 8 Tue Mar 8, 2011 3:44pm EST

WASHINGTON/CLEVELAND, March 8 (Reuters) - A Credit Suisse (CSGN.VX) client pleaded guilty to evading U.S. taxes on Tuesday, marking the first time the government publicly mentioned the bank in its latest wave of tax evasion probes.

Defendant Edward Gurary was originally charged with hiding assets at accounts at Swiss bank UBS AG (UBSN.VX) (UBS.N), but he now also admits he hid assets at Credit Suisse.

U.S. officials are investigating other banks after UBS in 2009 paid $780 million to settle tax evasion charges.

An indictment filed last month charged four bankers, identified by sources as working at Credit Suisse, with encouraging Americans to dodge taxes. [ID:nN23169804]

Credit Suisse has said it is not a target of any probe.

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