US arrest CS banker as material witness

US authorities have arrested a Credit Suisse banker as a "material witness" as they investigate other banks that may have helped Americans to avoid paying taxes, Swiss newspaper SonntagsZeitung reported on Sunday. The banker is not allowed to leave the United States after his arrest two weeks ago when he entered the country to meet with clients, the paper reported.
The paper cited an unnamed Credit Suisse manager as saying the banker was arrested because of activities linked to his time before joining Credit Suisse.
The banker is working for Credit Suisse Private Advisors, a unit of Credit Suisse that is fully licensed with the SEC to provide banking services to US clients out of Switzerland. Credit Suisse declined to comment.