Julius Baer pays $547m to settle tax evasion case in US

Pedro Gonçalves
clock • 1 min read

Swiss private bank Julius Baer has closed a 2016 deferred prosecution agreement (DPA) with the US Department of Justice over helping Americans evade taxes. The settlement comes as the private bank is caught up in a South American money laundering scandal.  The DPA, signed in February 2016, involved the bank's legacy cross-border private banking business in the US. Specifically, the bank was accused of conspiracy to defraud the IRS, file false income tax returns and dodge federal income ...

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