NEW YORK—The U.S. government is ending its criminal case against Zuercher Kantonalbank for helping wealthy Americans evade taxes after the Zurich lender paid $98.5 million and complied with a three-year deferred prosecution agreement. In a Friday filing with the U.S. District Court in Manhattan, a federal prosecutor said, “the government will not now proceed with the prosecution of ZKB” because of the lender’s “full compliance” with the August 2018 agreement. ZKB had admitted to helping U.S.-based clients hide hundreds of millions of dollars from the Internal Revenue Service by using undeclared Swiss bank accounts. Prosecutors said more than 190 U.S. taxpayers conspired to conceal accounts at the bank between 2002 and 2009. The case was part of a broad U.S. crackdown on offshore tax evasion by wealthy Americans. Two ZKB bankers each pleaded guilty to a related misdemeanor conspiracy charge and were sentenced to one-year probation. The $98.5 million payment …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta