July 19, 2019

For not disclosing additional U.S. accounts when a 2015 non-prosecution agreement was signed with the DOJ, Banque Bonhôte & Cie SA, Ltd. (Bonhôte) of Switzerland has signed an addendum, agreeing to pay an additional $1.2 million penalty on top of its $624,000 share of an earlier penalty against 80 Swiss banks totaling $1.36 billion.  The DOJ had executed non-prosecution agreements with the banks in 2015 and 2016 to resolve potential criminal liabilities relating to offshore banking services.  DOJ

Tagged in: Abusive Tax Shelters, Tax Fraud,