Swiss Bank Allegedly Used Elaborate Methods To Help Clients Avoid US Taxes.

The report contains the results of a two-year Senate investigation and comes a day before the heavily-anticipated questioning of Credit Suisse chief Brady Dougan and other top bank figures before the panel.

“The investigation found that, as of 2006, Credit Suisse had over 22,000 US customers with Swiss accounts whose assets, at their peak, exceeded 12 billion Swiss francs ($13.5 billion),” the report said.

“Although Credit Suisse has not determined or estimated how many of those accounts were hidden from US authorities, the data suggests the vast majority were undeclared,” it added.

Among the bank’s cloak-and-dagger practices, Swiss bankers were sent to the United States to secretly find clients, leaving no paper trail, at events sponsored by the bank — such as at golf tournaments in Florida.

The bank also helped its clients find “intermediaries” who could help them create offshore shell companies to hide the money trail from the Internal Revenue Service.

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