U.S. ends Zurich bank ZKB's criminal tax evasion case - Reuters

bulukuci.blogspot.com

The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page.

NEW YORK, Sept 3 (Reuters) - The U.S. government is ending its criminal case against Zuercher Kantonalbank for helping wealthy Americans evade taxes, after the Zurich lender paid $98.5 million and complied with a three-year deferred prosecution agreement.

In a Friday filing with the U.S. District Court in Manhattan, a federal prosecutor said "the government will not now proceed with the prosecution of ZKB" because of the lender's "full compliance" with the August 2018 agreement.

ZKB had admitted to helping U.S.-based clients hide hundreds of millions of dollars from the Internal Revenue Service by using undeclared Swiss bank accounts.

Prosecutors said more than 190 U.S. taxpayers conspired to conceal accounts at the bank between 2002 and 2009.

The case was part of a broad U.S. crackdown on offshore tax evasion by wealthy Americans.

Two ZKB bankers each pleaded guilty to a related misdemeanor conspiracy charge and were sentenced to one year probation.

The $98.5 million payment included a $35.1 million fine, plus restitution and forfeiture, court papers show.

Reporting by Jonathan Stempel in New York Editing by Marguerita Choy

Adblock test (Why?)

"case" - Google News
September 04, 2021 at 01:57AM
https://ift.tt/3tlZrUE

U.S. ends Zurich bank ZKB's criminal tax evasion case - Reuters
"case" - Google News
https://ift.tt/37dicO5
https://ift.tt/2VTi5Ee

Bagikan Berita Ini