Ex-banker pleads guilty to helping Americans evade taxes

A former banker with Swiss bank Credit Suisse has pleaded guilty at a US court to aiding Americans evade income tax of up to $3.5 million (CHF3.35 million). He could face up to five years in prison.  The 48-year-old Italian citizen and Swiss resident pleaded guilty on Wednesday in the Eastern District Court of Virginia. He was a relationship manager at Credit Suisse and helped US citizens conceal their assets and income in secret Swiss bank accounts between 2002 and 2009. He managed a portfolio of around $700 million for Americans residing in the West Coast and helped them evade taxes in the range of $1.5 million to $3.5 million.  A US Department of Justice statement revealed some of the methods used to facilitate tax avoidance. To avoid detection, the banker would meet clients when they came to Zurich or travel to the US once or twice a year. In the US, he would use private couriers to avoid being caught carrying clients’ financial statements. No Credit Suisse logo ...