US Justice Department hits 80 Swiss banks with penalties

56ab629cc3618811648b4581

https://www.rt.com/business/330584-us-fines-swiss-banks/

Eighty Swiss banks have agreed to pay the US fines totaling $1.36 billion in order to avoid court prosecution, according to the US Justice Department.

After the investigation has been completed all the banks are required to cooperate in related criminal or civil proceedings, said the department.

The US Justice Department began its Swiss Bank Program in 2013. It provided a way for Swiss banks to admit tax-related criminal offenses in connection with the US.

Under the program, the banks were obliged to disclose cross-border activities and provide detailed information on accounts in which US taxpayers have interests. The financial institutions under investigation also had to close accounts of US tax evaders.

The banks have managed to avoid a trial, with those already facing criminal charges excluded from the program.

The US started its tax avoidance push in 2009 after UBS Group confirmed it held accounts of Americans evading tax. The US government managed to recover $13 billion in unreported wealth.

———–

USJD: “so we have a lot of dirt on you and your employees..its complicated..we know you cheated..you know we know..pay up and we will make it go away..”

and like magic its all fixed..nobody goes to jail..

“Eighty Swiss banks have agreed to pay the US fines totaling $1.36 billion in order to avoid court prosecution, according to the US Justice Department.”

401

~ by seeker401 on February 2, 2016.

3 Responses to “US Justice Department hits 80 Swiss banks with penalties”

  1. Reblogged this on UZA – people's courts, forums, & tribunals and commented:
    A beautiful transaction deal, this. The order of the court is a bill of exchange. The fine is a bill of exchange. The banks endorse it, accept it for value and voila, the debt is paid and the courts made a wad and so did the banks. Right in front of our eyes. They are using MONEY OF EXCHANGE people. To comprehend how it works one needs to know what A4V accepted for value means. Download Foreclosure Defence Handbook on our ‘manuals’ page. in peace

  2. It’s ok to engage in fraud, as long as the government gets its cut.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: