Banque Pictet to pay nearly $123M over secret bank accounts

By Agence France-Presse

Dec 06, 2023 12:21 am

NEW YORK: Banque Pictet et Cie will pay nearly $123 million under a deferred prosecution agreement in which the private bank admitted to helping US taxpayers evade $50.6 million in taxes, US officials announced on Monday.

The Swiss financial company hid more than $5.6 billion in 1,637 secret bank accounts in Switzerland and elsewhere, the Justice Department said in a statement.

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