Banque Pictet's Admission: Assisting U.S. Taxpayers in Hiding Billions
TL;DR
Swiss private bank Banque Pictet et Cie SA has admitted to conspiring with U.S. taxpayers to hide over $5.6 billion in secret bank accounts in Switzerland and elsewhere, as well as concealing the income generated in those accounts from the IRS. The bank has entered into a deferred prosecution agreement and will pay approximately $122.9 million to the U.S. Treasury. This case is part of the Justice Department's ongoing investigations into offshore U.S. tax evasion by foreign banks.
Topics:businessfinance#banque-pictet#finance#offshore-accounts#swiss-private-bank#tax-evasion#us-treasury
- Swiss Private Bank Banque Pictet Admits to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts Department of Justice
- Swiss bank Banque Pictet admits hiding $5.6 billion of Americans' money from IRS CNBC
- Major Swiss bank admits to helping U.S. taxpayers hide billions from IRS UPI News
- Swiss bank will pay $122.9 million after helping U.S. citizens hide billions in assets Yahoo Finance
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