German prosecutors widen Credit Suisse probe

German prosecutors have conducted further raids on Credit Suisse offices in a clampdown on tax evasion, targeting four more of the bank's employees.

Dusseldorf’s senior public prosecutor Ralf Möllmann announced on Wednesday that the investigations had been intensified and four more employees indicted. Credit Suisse declined to comment.

Prosecutors initially began investigating four other Credit Suisse employees on suspicion of aiding tax evasion in December last year. The focus of the investigation is the bank’s cross-border business.

                                  

The prosecutors said they had raided offices in Hamburg, Hanover, Cologne, Frankfurt and “two smaller places” on Tuesday, searching the homes and offices of four additional Credit Suisse employees suspected of aiding tax evasion.

                                  

The investigation was sparked by the purchase of a CD with the names of more than 1,000 suspected tax cheats.