Bloomberg Quotes Mark Matthews on Credit Suisse Plea Strengthening DOJ's Hand Against Swiss Banks

Mark E. Matthews spoke with Bloomberg regarding the fate of 13 Swiss Banks still facing criminal charges after Credit Suisse set a new punishment standard for offshore tax evasion. The guilty plea by Credit Suisse's main bank subsidiary and $2.6 billion penalty marked a watershed in a campaign that has led to charges against more than 100 people since 2009. Another 100 or so Swiss banks and 43,000 U.S. taxpayers applied to the Justice Department to avoid prosecution by disclosing in detail how the evasion worked. For the complete article, please visit Bloomberg's website.
 
Excerpt taken from the article. 

"It looks like DOJ has a plan in certain cases where they can get a guilty plea but not destroy the bank," said Mark Matthews, a former IRS deputy commissioner who is now a tax attorney in Washington. "I'm sure that any bank confronted with that can hardly take comfort."