UBS Group AG will pay $511 million to settle a US tax investigation into Credit Suisse, which it acquired in 2023. The investigation revealed that Credit Suisse helped wealthy Americans hide over $4 billion from the IRS through offshore accounts. Credit Suisse Services AG pleaded guilty to aiding in false tax returns and will pay $371.9 million. UBS expects to reduce costs related to Credit Suisse and is cooperating with ongoing investigations. Senator Ron Wyden stated the settlement vindicates the Senate probe findings. UBS's acquisition of Credit Suisse is on track despite a decline in shares.