tax evasion
Italy probes Lombard International Assurance over allegations of tax evasion, money laundering
Milan prosecutors are investigating Lombard International Assurance (LIA), a Luxembourg-based insurer owned by U.S. fund Blackstone (BX.N), due to allegations of tax evasion and money laundering, two judicial sources said.
Newspaper Sole 24 Ore had reported the investigation on Wednesday and...
Swiss Life agrees $77.4 million settlement in U.S. criminal tax evasion case
Swiss Life Holding AGÂ (SLHN.S)Â 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...
Swiss Migros Bank pays $2.9m to settle charges it aided German clients to dodge taxes
Switzerland’s Migros Bank has agreed to pay German justice authorities around 2.4 million euros ($2.9 million) to settle allegations it allowed German clients in the past to hide assets from the taxman, the bank said on Monday.
“The solution that...
Richest Americans hide more than 20% of their wealth from IRS
The richest Americans are hiding more than 20 percent of their earnings from the Internal Revenue Service, according to a comprehensive new estimate of tax evasion, with the top 1 percent of earners accounting for more than a third of...
French prosecutors seek $3.6 billion fine for UBS in tax case
French prosecutors and lawyers for the government said UBS Group AG should be ordered to pay 3 billion euros ($3.6 billion) -- 33% less than the original judgment -- for allegedly helping French clients hide money from the nation’s...
Swiss private bank Rahn+Bodmer to pay $22 million to settle tax evasion charge
Zurich private bank Rahn+Bodmer will pay $22 million to settle U.S. criminal charges it helped American taxpayers who were exiting accounts at UBS and other Swiss banks and hiding hundreds of millions of dollars in offshore accounts.
The agreement is...
OpenLux: How tiny European country ‘Duchy’ attracted billionaires
Luxembourg is inconsequential to many, but an investigation dubbed "OpenLux" shows how this small and secretive European country has attracted more wealth than the GDP of Japan.
Through favorable tax structures and opaque ownership registers, Luxembourg has attracted €4.5 trillion...
Former Tunisian presidential candidate arrested on money laundering, tax evasion charges
Former Tunisian presidential candidate and media mogul Nabil Karoui has been arrested on charges of money laundering and tax evasion, a Tunis court spokesman said on Thursday.
Karoui spent most of last year’s presidential campaign in jail for the same...
Spain’s former King Juan Carlos pays $820,000 tax bill amid financial scandal
King Juan Carlos, Spain’s former monarch, has paid about $820,000 in back taxes, his lawyer said on Wednesday, amid an investigation by prosecutors into whether he and other members of the royal family used bank accounts in other people’s...
U.S Attorney General William Barr allegedly froze tax evasion probe of ex-client Caterpillar – Reuters
Before William Barr became President Donald Trump’s choice to lead the U.S. Department of Justice, he represented Caterpillar Inc, a Fortune 100 company, in a federal criminal investigation by the department.
Much was at stake for Caterpillar: Since 2018, the...
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Ex-CEO of social media startup admits to defrauding investors using forged documents
The former chief executive of a social media startup that pitched itself as a Facebook for small businesses has...