May 15 Credit Suisse Group AG is
expected to plead guilty and pay nearly $2.5 billion to U.S.
authorities to end a probe of potential tax evasion involving
the Swiss bank, the Wall Street Journal reported, citing people
familiar with the discussions.
The business daily said under the terms being discussed, the
bank will pay about $600 million to New York state's banking
regulator and $100 million to the Federal Reserve, in addition
to about $1.7 billion to the U.S. Justice Department.
A settlement could come as early as next week, the paper
said on Thursday. (r.reuters.com/ruc49v)
Reuters reported on Monday that the New York State
Department of Financial Services was seeking hundreds of
millions of dollars from Credit Suisse and that total fines
could top $2 billion.
Credit Suisse plans to plead guilty to a criminal charge as
part of the tentative deal, but regulators are not expected to
take measures that would risk driving the bank out of business,
the WSJ report cited the people as saying.
A Credit Suisse spokesman could not be immediately reached
for comment on the report.
(Reporting by Aman Shah in Bangalore; Editing by Sriraj