March 11, 2021

Swiss bank Rahn+Bodmer Co. will pay $22 million to resolve allegations that it conspired with U.S. customers to evade their U.S. tax obligations by concealing their ownership and control of up to $550 million in undeclared funds held in R+B accounts.  The bank entered into a deferred prosecution agreement and will cooperate with further investigations, including of U.S. accountholders.  DOJ

Tagged in: Abusive Tax Shelters, Tax Fraud,