Credit Suisse pays US$77 million to settle US probes ‘after it…

Credit Suisse Group has agreed to pay about US$77 million to settle US criminal and civil probes into its Asia-Pacific hiring practices, including efforts to win banking business by awarding jobs to friends and family of Chinese government officials. The Swiss bank agreed to a US$47.03 million criminal fine and to enter a non-prosecution agreement under a settlement with the US Department of Justice announced on Thursday.