Credit Suisse Group AG had four workers charged with conspiring to help U.S. clients evade taxes through secret bank accounts, according to an indictment yesterday and people familiar with the matter.
Marco Parenti Adami, Emanuel Agustoni, Michele Bergantino and Roger Schaerer conspired with clients at “one of the biggest banks in Switzerland,” according to an indictment in federal court in Alexandria, Virginia. Zurich-based Credit Suisse, the second-biggest bank in Switzerland, is the bank, according to the people who requested anonymity because they aren’t authorized to speak publicly about the indictment.
WHAT TO WATCH: *Swiss fourth-quarter employment will be released at 9:15 a.m.
EQUITIES: *Sulzer full-year sales fall to SF3.18 billion francs *Bank Sarasin full-year profit slips 0.2% to SF107.8 million *Transocean posts biggest quarterly loss in eight years *Sonova announces change in existing acquisition agreement *Swiss authorities release former Credit Suisse banker, Tages-Anzeiger reports *Kudelski 2010 revenue rises 0.9% to SF1.07 billion *Micronas full-year net sales at SF190.3 million *Vontobel cut to “underperform” at Credit Suisse *Bank Frey, Maerki Baumann are under investigation in the U.S. over tax evasion assistance, the New York Times says
MARKETS: *The SMI remained unchanged to close at 6,622.77 *The SPI fell 0.3 percent to close at 5,921.66 *The Stoxx Europe 600 Index dropped 1.1 percent to 282.38 *Euro -- Franc at 1.2769 at 7:47 a.m. Zurich time