Lawmakers Sharply Criticize Justice Department’s Handling of Credit Suisse Tax Evasion Case

By Brian Orsak, Colby Adams and Brian Monroe

CLARIFICATION APPENDED Despite five years of negotiations with Credit Suisse, the U.S. Justice Department has identified only one percent of the bank's American clients it suspects of dodging taxes, according to lawmakers. In a press briefing Tuesday, Sens. Carl Levin (D-MI) and John McCain (R-AZ), and investigators with the Senate's Permanent Subcommittee on Investigations (PSI), faulted the department for failing to make full use of its legal powers to obtain the names of suspected tax cheats that banked with Credit Suisse over the past decade. Of the approximately 23,000 Americans for which Credit Suisse once maintained accounts, U.S. prosecutors have...