(Bloomberg) -- Credit Suisse Group AG placed five employees on leave while it conducts an internal investigation, a spokeswoman for the bank said.

The five worked on Credit Suisse’s Israel desk, focusing on initial public offerings for Israeli technology companies,  Swiss newspaper Schweiz am Sonntag reported Sunday, citing internal sources.

The investigation into the employees, one of whom held a managerial position, is linked to possible breaches of U.S. tax laws by Israelis, the newspaper reported.

A spokeswoman for Credit Suisse declined to comment beyond confirming the leave.

To contact the reporter on this story: Alice Baghdjian in Zurich at To contact the editors responsible for this story: Jan Schwalbe at, Bernard Kohn, Bruce Rule

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