Judge rebecca Beach Smith said today at a hearing that lasted less than an hour ‘I adjudge Credit Suisse guilty’ reports Bloomberg. The judge had little choice. She had to either impose the terms of the sentence agreed with the US department of Justice (DoJ) or throw out the entire deal.
Credit Suisse AG was the 1st banking unit in over a decade to plead guilty at a US criminal court. It agreed to pay $2.6bn to settle the allegation it helped rich US clients to avoid taxes.