Credit Suisse clients raided by tax agents

German tax fraud investigations have led the authorities to raid the homes of Credit Suisse bank clients, Handelsblatt financial daily reported on Wednesday.

The bank saw about 7,000 of its customers, mostly German, being targeted in the investigation. It’s believed the total avoided tax is in the billions of euros, reported the newspaper.

The probe involved clients who had bought insurance products issued by Bermuda-based Credit Suisse Life, said the daily.