Imperial Valley News Imperial Valley News Center Switzerland’s Largest Insurance Company and Three Subsidiaries Admit to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts Details Written by DOJ
Washington, DC - The Department of Justice Friday filed a criminal information charging Swiss Life Holding AG (Swiss Life Holding), Swiss Life (Liechtenstein) AG (Swiss Life Liechtenstein), Swiss Life (Singapore) Pte. Ltd. (Swiss Life Singapore), and Swiss Life (Luxembourg) S.A. (Swiss Life Luxembourg), collectively, the “Swiss Life Entities,” with conspiring with U.S. taxpayers and others to conceal from the IRS more than $1.452 billion in offshore insurance policies, including more than 1,600 insurance wrapper policies, and related policy investment accounts in banks around the world and the income generated in these accounts.
Switzerland's biggest and oldest life insurance company will pay more than $77 million to the U.S. Treasury after admitting it helped U.S. taxpayers dodge tax responsibilities through offshore accounts after Swiss banks stopped providing tax-dodging help to U.S. taxpayers because of law enforcement scrutiny, prosecutors announced Friday.
UPDATE 2-Swiss Life to pay $77.4 mln to settle U.S. criminal tax evasion case Reuters 3 hrs ago
(Adds details from settlement, comment, bylines)
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By Jonathan Stempel and Tom Hals
NEW YORK, May 14 (Reuters) - Swiss Life Holding AG agreed to pay $77.4 million and enter a deferred prosecution agreement to resolve a U.S. criminal case in which Switzerland s largest insurer was accused of helping wealthy American clients evade taxes.
The three-year agreement announced on Friday resolves a charge that Swiss Life conspired to defraud the U.S. Internal Revenue Service by concealing more than $1.45 billion in offshore insurance policies.
UPDATE 2-Swiss Life to pay $77.4 mln to settle U.S. criminal tax evasion case Reuters 2 hrs ago
(Adds details from settlement, comment, bylines)
Popular Searches
By Jonathan Stempel and Tom Hals
NEW YORK, May 14 (Reuters) - Swiss Life Holding AG agreed to pay $77.4 million and enter a deferred prosecution agreement to resolve a U.S. criminal case in which Switzerland s largest insurer was accused of helping wealthy American clients evade taxes.
The three-year agreement announced on Friday resolves a charge that Swiss Life conspired to defraud the U.S. Internal Revenue Service by concealing more than $1.45 billion in offshore insurance policies.