US Department Of Justice: Credit Suisse’s Investment Bank In Hong Kong Agrees To Pay $47 Million Criminal Penalty For Corrupt Hiring Scheme That Violated The FCPA

Credit Suisse (Hong Kong) Limited (CSHK), a Hong Kong-based subsidiary of Credit Suisse Group AG (CSAG), a Swiss-based issuer of publicly traded securities in the United States, reached a resolution with the Department of Justice and agreed to pay a $47 million criminal penalty for its role in a scheme to corruptly win banking business by awarding employment to friends and family of Chinese officials.