Industry News, Trustworthy Insights

Popular Companies:

Pictet: New $122m Legal Settlement Payment Explained

A Swiss private bank, Banque Pictet, has admitted to assisting clients in hiding approximately $5.6 billion from the U.S. Internal Revenue Service (IRS) between 2008 and 2014.

Pictet: Swiss Bank Admits to Hiding $5.6 Billion, Settles for $123 Million Restitution. PHOTO: Kestrel Capital/ALP
Pictet: Swiss Bank Admits to Hiding $5.6 Billion, Settles for $123 Million Restitution. PHOTO: Kestrel Capital/ALP

The bank managed 1,637 accounts for American customers, allowing them to evade around $50.6 million in U.S. taxes.

As a result of this confession, Banque Pictet will pay almost $123 million in restitution, disgorgement

Industry news used by professionals

Try £4.99 per month

Already a member?
Weekly Digest

All the week’s industry events straight to your inbox.

Before your sign up, please read terms of use and privacy policy.

Trending

FREE Weekly Newsletter

Trusted industry insights used by Professionals

By signing up you agree to our terms of use and privacy policy.

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Password Reset

You will soon receive a Reset Password link

FREE Weekly Newsletter

Trusted industry insights used by Professionals

By signing up you agree to terms of use and privacy policy.

Send us your article

[formidable id=3]