You are here

5 more Swiss banks agree to pay non-prosecution penalties

Move pushes the number of tax evasion accords to 73 and total payments to more than US$1 billion

BT_20151225_CPTAX25_2038230.jpg
OWNING UP: Bank J Safra Sarasin AG has agreed to pay US$85.8 million in penalties to avoid prosecution, and has signed a statement of facts admitting the steps that it took to help US clients hide assets from the IRS.

Geneva

FIVE more Swiss banks, including one owned by Brazilian billionaire Joseph Safra, agreed to pay penalties to avoid prosecution for helping US clients evade taxes, pushing the number of accords to 73 and total payments to more than US$1 billion.

Bank J Safra Sarasin AG agreed

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom