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Violation Tracker Individual Record

Company: Credit Suisse Group AG
Current Parent Company: UBS
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Penalty: $175,500,000
Year: 2021
Date: October 19, 2021
Offense Group: competition-related offenses
Primary Offense: fraud
Secondary Offense: banking violation
Violation Description: Credit Suisse Group AG and Credit Suisse Securities (Europe) Limited (CSSEL), its subsidiary in the United Kingdom, admitted to defrauding U.S. and international investors in the financing of an $850 million loan for a tuna fishing project in Mozambique, They were assessed more than $547 million in penalties, fines, and disgorgement as part of coordinated resolutions with criminal and civil authorities in the United States and the United Kingdom. Of that total, $175.5 million was paid to U.S. authorities.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.