German tax officials raid Credit Suisse offices
German tax authorities raided, on 14 July 2010, the German offices of Swiss bank Credit Suisse as part of an investigation into allegations that wealthy German taxpayers have used the bank to hide assets from tax authorities. The investigation covers some 1,100 cases involving as much as 1.2 billion euros in undeclared income, according to a BBC news report.
Johannes Mocken, a prosecutor in Dusseldorf, announced that all 13 of Credit Suisse's German offices were targeted by investigators. "The Dusseldorf court has issued search warrants against unknown employees of Credit Suisse on suspicion of aiding tax evasion," said a statement.
The investigation was prompted by data purchased by the German state of North Rhine-Westphalia on 26 February and later shared with other German states and the federal government. German Chancellor Angela Merkel said the government would support the purchase of the information provided that it was genuine.
Credit Suisse acknowledged the raids and said in a statement that it is "working in close co-operation with the relevant local authorities."
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