tldrdaily.news logo
Tag

Banque Pictet

All articles tagged with #banque pictet

finance2 years ago

Banque Pictet's $5.6 Billion Hidden from IRS Revealed

Swiss bank Banque Pictet has admitted to conspiring with U.S. taxpayers to hide over $5.6 billion from the Internal Revenue Service (IRS). The bank will pay $122.9 million in restitution and penalties and has agreed to cooperate with ongoing investigations. Between 2008 and 2014, Banque Pictet had 1,637 accounts on behalf of American clients, who collectively evaded approximately $50.6 million in U.S. taxes. The bank managed around $20 billion in total assets from U.S. taxpayers during that period. The Justice Department has agreed to defer prosecution for three years and then dismiss a charge of criminal conspiracy to defraud the IRS if the bank complies with the terms of the deal.

via CNBC|
#banque-pictet#department-of-justice#finance
finance2 years ago

Banque Pictet's Admission: Assisting U.S. Taxpayers in Hiding Billions

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.

via Department of Justice|
#banque-pictet#finance#offshore-accounts
finance2 years ago

Swiss Bank Banque Pictet Confesses to Assisting U.S. Taxpayers in Tax Evasion

Swiss private bank Banque Pictet has admitted to conspiring with U.S. taxpayers to hide over $5.6 billion in 1,637 secret bank accounts in Switzerland and elsewhere, as well as concealing the income generated in those accounts from the IRS. As part of a deferred prosecution agreement, Banque Pictet will pay approximately $122.9 million to the U.S. Treasury. The bank's actions were discovered as part of the Department of Justice's investigations into offshore U.S. tax evasion by foreign banks.

via Department of Justice|
#banque-pictet#finance#offshore-accounts