Credit Suisse challenged by raids on German branches

15th July 2010, Comments 0 comments

Credit Suisse has a fresh public relations challenge in Germany after 150 investigators raid the financial institutions branches in that country on suspicion that staff illegally aided wealthy clients to evade taxes. The probe is an embarrassment for Switzerlands second largest bank, which has largely avoided the kind of bad publicity meted out to its rival UBS over an ongoing tax evasion scandal in the US.

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