Credit Suisse client in court

A CREDIT Suisse client pleaded guilty in US federal court yesterday to evading taxes, confirming that the bank has become tangled in the US government’s latest wave of tax evasion probes.

Defendant Edward Gurary, of Ohio, was originally charged with hiding assets at accounts at Swiss bank UBS, but he now also admits he hid assets at Credit Suisse.

US officials said they are investigating other banks after UBS paid $780m to settle tax evasion charges. The case marks the first time Credit Suisse has been mentioned in the case.