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Credit Suisse to Pay $47 Million to Resolve DoJ Asia Probe

Credit Suisse to Pay $47 Million to Resolve DoJ Asia Probe

Credit Suisse Group AG agreed to pay a $47 million penalty to the U.S. Department of Justice to end a probe into whether it hired employees in Asia in exchange for government contracts and other favors. Credit Suisse’s Hong Kong unit reached a non-prosecution agreement with the DOJ regarding its recruitment practices in Asia between 2007 and 2013, according to an emailed statement from the Zurich-based bank on Wednesday. The settlement resolves another legal issue for Credit Suisse, which has paid roughly $13 billion in fines since 2008.