Five-nation tax evasion investigation takes Credit Suisse by surprise

Zurich

CREDIT Suisse Group AG and its home country of Switzerland were surprised by a tax evasion and money laundering investigation that spans five countries from Australia to the United Kingdom and potentially involves thousands of account holders.

Two people were arrested by Dutch authorities, who also seized a gold bar, paintings and jewellery and are still probing dozens more suspected of concealing millions of euros in Swiss accounts, the Netherlands' Fiscal Information and Investigation Service said on Friday. Criminal investigations are also underway in France, Germany, the UK and Australia, and the roles of bank employees are part of the inquiries.

"The sheer volume of data and its international scope makes this an exceptional case," said Thierry Boitelle, a …