Swiss Banks To Pay DOJ $2.2M To Avoid Criminal Charges
Law360, New York (May 28, 2015, 2:25 PM EDT) -- The U.S. Department of Justice Thursday, in exchange for $2.2 million in payments, agreed not to press criminal charges on four Swiss banks accused of hiding millions of dollars in U.S. taxpayer money from the Internal Revenue Service.
Societe Generale Private Banking SA, MediBank AG, LBBW AG and Scobag Privatbank AG agreed to cooperate with the Justice Department in its ongoing probe of tax evasion in the Swiss banking industry in return for the nonprosecution agreements.
"Today's agreements reflect the Tax Division's continued progress toward reaching appropriate resolutions with the banks that self-reported and voluntarily entered the Swiss Bank Program," Caroline...
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