After Credit Suisse plea deal, top U.S. tax enforcer steps down

Reuters News
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Posted: May 27, 2014 10:43 AM

WASHINGTON (Reuters) - The U.S. Justice Department's top tax enforcement official will leave the agency next week, after securing a $2.6 billion settlement and guilty plea from Credit Suisse over charges the Swiss bank helped Americans evade U.S. taxes.

Kathryn Keneally's last day will be June 5, the Justice Department said on Tuesday.

"As a result of her determined efforts ... the Tax Division has secured historic gains in our fight to protect the American people from tax fraud and financial misconduct," Attorney General Eric Holder said.

The announcement came just one week after Credit Suisse became the largest bank in decades to plead guilty to a criminal charge after facing accusations that it helped American clients conceal assets in secret accounts that were not disclosed to U.S. tax authorities.

Keneally played an essential role in negotiating the Credit Suisse settlement, officials have said, and first alerted the bank last October that she was prepared to recommend prosecution.

More than a dozen other Swiss banks remain under investigation for similar practices.

(Reporting by Aruna Viswanatha; Editing by Doina Chiacu)