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King Digital Entertainment Plc, maker of hit mobile phone game "Candy Crush Saga", expects to be worth up to $7.6 billion when it goes public this month in the United States, amid concerns about its over reliance on the game. King will hope to benefit from its focus on the estimated $17 billion market for mobile game apps and avoid the fate of rivals such as Zynga Inc, which has struggled to make its games as popular on phones as they are online. "Candy Crush," which involves moving candies to make a line of three in the same color, was the most downloaded free app and top revenue-grossing app in 2013. The game accounts for nearly three-quarters of King's revenue.
A former banker of Credit Suisse Wednesday pleaded guilty to assisting US customers avoid taxes by hiding assets in secret Swiss bank accounts. Andreas Bachmann, a Swiss citizen, admitted that between 1994 and 2006 he engaged in a "wide-ranging" conspiracy to defraud US tax officials, the Justice Department said. Bachmann, 56, pleaded guilty to one criminal count and faces up to five years in prison, a $250,000 fine, and other penalties. Credit Suisse maintained thousands of secret accounts for US customers with as much as $3 billion in assets, Justice has said.