Failed swiss bank Credit Suisse allegedly has been up to far more than just bad financial practices. According to reports, Credit Suisse was served documents months ago by U.S federal authorities amid reports that the bank had been aiding the Russians in evading U.S sanctions. It is also understood that its new owner UBS has also been summoned to answer questions and provide documents requested by federal authorities.
Federal officials are attempting to determine who at the bank actually worked with sanctioned officials and whether or not they went to extraordinary efforts to conceal it. Officials also want to know how these clients were vetted by the bank over the past several years.
America notably ramped up its sanctions against Russia leading into Vladamir Putin ‘s illegal invasion and later war in Ukraine.