UBS Group (NYSE:UBS) is close to paying hundreds of millions of dollars for alleged violations by Credit Suisse of an earlier agreement with the U.S. Justice Department regarding U.S. clients who evaded tax,

UBS is set to pay a minimum of hundreds of millions of dollars to settle Credit Suisse's violations of an earlier agreement with the U.S. Department of Justice over customers in the U.S. who evaded tax,

A settlement in the hundreds of millions of dollars related to a decade-old tax evasion case could come as soon as this week, the Wall Street Journal reported.

A U.S. Senate committee found that Credit Suisse violated the plea deal made in 2014 by continuing to help ultra-wealthy Americans evade taxes and concealing more than $700-million from the government

The potential payout relates to an earlier deal over tax evasion by U.S. clients of Credit Suisse, the rival Swiss bank that UBS acquired in 2023.