According to prosecutors, U.S. taxpayers with Pictet accounts in Switzerland and elsewhere evaded about $50.6 million in taxes between 2008 and 2014. As part of the agreement, Banque Pictet agreed to pay $122.9 million to the U.S. Treasury.
“This case should provide a clear message to others who try to hide their assets and income offshore,” Jim Lee, the chief of the IRS’ criminal investigation division, said in a statement.
As part of the agreement, Pictet will implement remedial measures and cooperate with the authorities’ investigation. If it complies for three years, U.S. prosecutors will move to dismiss charges of conspiring to defraud the IRS.
What about the people who didn’t pay taxes?
Will they be charged as well or do they get off scott free to do it again and again and again?
Asking for a friend? 😀
Wow, I’m shocked.
Who would’ve thought that the country second only to Canada in international money laundering and corporate fraud was hiding billions from the IRS.
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