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International Business Times
International Business Times
Business
AFP News

Banque Pictet To Pay Nearly $123 Mn Over Secret Bank Accounts

Pictet United States the Justice Department
The Justice Department announced a deferred prosecution agreement with Swiss private bank Banque Pictet et Cie SA (Credit: AFP)

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 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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