Liechtenstein Bank Agrees To $23.8M US Tax Evasion Deal

Law360, Los Angeles (July 30, 2013, 4:02 PM EDT) -- Liechtensteinische Landesbank AG, a bank based in Vaduz, Liechtenstein, has agreed to pay more than $23.8 million and enter into a nonprosecution agreement to settle claims that it helped U.S. taxpayers avoid tax obligations, the U.S. Department of Justice announced Tuesday.

The bank’s NPA with the U.S. Attorney’s Office for the Southern District of New York provides that LLB-Vaduz will not be criminally prosecuted for opening and maintaining undeclared bank accounts for U.S. taxpayers from 2001 through 2011, when the DOJ says LLB-Vaduz assisted a significant...
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