Statement by Senator John McCain on Credit Suisse Pleading Guilty to Aiding U.S. Tax Evasion

Statement

U.S. Senator John McCain (R-AZ), Ranking Member of the Senate Permanent Subcommittee on Investigations (PSI), released the following statement on the plea deal announced today by the U.S. Department of Justice in which Credit Suisse pleaded guilty to aiding U.S. tax evasion. This Credit Suisse matter was the subject of a PSI investigation and hearing held earlier this year.

"I am gratified by the Justice Department's decision to require Credit Suisse to plead guilty to criminal wrongdoing in light of compelling evidence, including information received and presented by PSI in connection with its hearing, that crimes were committed in connection with the bank's facilitation of offshore tax evasion. In such cases, it is vitally important for all Americans to know that no financial institution is "too big to prosecute.' Over the next few days, I look forward to reviewing this guilty plea closely to see whether it appropriately holds officers, directors and key executives individually accountable and whether the plea will be sufficient to help deter similar misconduct in the future."

Source