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
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 to pay US$85.8 million, Coutts & Co US$78.5 million and Banque Cantonale Vaudoise US$41.7 million under non-prosec…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS flags 'serious' concern about new Swiss capital requirements
Money laundering accused Su Baolin to plead guilty after being handed 3 more charges
Lloyds bank says quarterly profits sink on higher costs
US seeks 36 months’ jail for Binance founder Zhao
Hong Kong bourse operator’s Q1 profit down 13% on weaker listings, trading
PBOC steps up rhetoric against long-end government bond rally