Credit Suisse released confidential U.S. client files!

BERN, Switzerland (PNN) - November 13, 2011 - Switzerland's second-biggest bank, Credit Suisse, has sent 130 confidential files on U.S. clients to the Swiss tax authorities, who might forward them to their U.S. counterparts, a Swiss weekly reported Sunday.

The dossiers were of U.S. clients with offshore accounts with Credit Suisse and its subsidiary, Clariden Leu, SonntagsZeitung reported, citing an official close to the dossier.

Contacted by the weekly for a response, Credit Suisse refused to confirm the report.

Last Tuesday, Credit Suisse acknowledged that it had warned Amerikan clients that they may be the target of a U.S. tax probe, after it was ordered by Bern to provide the clients' details.

A message to that effect also appears on Clariden Leu's website.

Washington criminal officials formally asked Bern to hand over confidential data of Credit Suisse's U.S. clients, as part of its probe into whether 11 Swiss banks helped U.S. citizens to evade taxes.

Under the procedure, the Swiss government would have to decide whether to agree to Washington's request.

But agreements signed between the two countries required the bank to pass the information to the Swiss federal authorities.

Any client affected would nevertheless have the right to appeal against Bern's decision. Credit Suisse's letter advised clients to hire lawyers as well as contact persons in Switzerland to represent them, if required, at the Swiss tax office.