By Joel Schectman
WASHINGTON--Two former Credit Suisse AG bankers who pleaded
guilty to helping wealthy American evade taxes received no jail
time after cooperating in the U.S. case against the Swiss bank but
will have to pay a small fine.
The lenient sentence, handed down Friday, came in exchange for
the men's cooperation, which helped the Justice Department secure
its first guilty plea against a financial institution in more than
a decade, according to people familiar with the matter. Last May,
Credit Suisse pleaded guilty to "knowingly and willfully" helping
thousands of U.S. clients open accounts and conceal their "assets
and income from the IRS" and agreed to pay $2.6 billion.
A federal judge in District Court in Alexandria, Va., sentenced
Josef Dörig and Andreas Bachmann to five years unsupervised
probation for their roles in helping U.S. customers hide earnings
from the Internal Revenue Service in Switzerland through a web of
secret accounts and shell companies. Mr. Dörig will pay $125,00 and
Mr. Bachmann will have to pay $100,000
Write to Joel Schectman at joel.schectman@dowjones.com
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