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Swiss Private Bank BSI SA Admits Aiding US Tax Cheats, Will Pay $211 Million

from Forbes

In a deal with U.S. prosecutors, Swiss private bank BSI SA agreed to pay a $211 million penalty and hand over leads on more than 3,000 accounts with U.S. ties, as well as the actual names of an undisclosed, but presumably much smaller group of U.S. account owners. The nonprosecution agreement, which allows BSI to avoid criminal charges in the U.S., is the first to be sealed under a controversial amnesty program the U.S. Department of Justice announced in August 2013 for all Swiss banks, except the 14 already under criminal investigation at that time. more


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