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Julius Baer Accomplishes 2015 Resolution With Day To Spare

Vis-à-vis tax evasion.
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The Swiss bank can check, “get the U.S. Justice Department off our back over the whole being a Swiss bank thing,” off its list and it prepares next year’s mostly broken promises to itself.

Julius Baer disclosed the settlement in a statement on Wednesday, as it earmarked another $197 million beyond the $350 million it set aside in June to resolve the probe. The Zurich-based company said it expects to conclude the agreement of the four-year investigation in the first quarter….

The bank reached a “comprehensive resolution regarding its legacy U.S. cross-border business” with prosecutors working for Manhattan U.S. Attorney Preet Bharara, according to the statement.

Julius Baer to Pay $547 Million to Resolve U.S. Tax Probe [Bloomberg]


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