ALEXANDRIA, Virginia (AP) -- Two former Swiss bankers have avoided jail time for their roles in a tax fraud scheme that helped U.S. customers hide billions of dollars in assets.
Prosecutors recommended probation Friday for the two men, Andreas Bachmann and Josef Dorig. The two were among eight former employees of Zurich-based Credit Suisse and its subsidiaries who were indicted in 2011.
Bachmann and Dorig voluntarily came to the U.S. to face charges and have cooperated with prosecutors' investigation. Last year, the bank pleaded guilty to aiding U.S. tax evaders and agreed to pay about $2.6 billion to the U.S. government and regulators.
The recommendation for probation in federal court in Alexandria, Virginia, comes despite the fact that federal sentencing guidelines call for prison terms of more than four years.