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Credit Suisse reaches €238m settlement over French tax fraud case
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fnlondon.comCredit Suisse said 24 October it reached a €238m settlement with French prosecutors over a case involving tax fraud, moving forward from another legal case as it pursues a painful reputational rehabilitation.
The Swiss lender will pay a €123m public-interest fine for historic cross-border private banking services comprising a profit disgorgement — a remedy for profits gained from wrongful conduct — of €65.6m, and the payment of an additional €57.4m.
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