Butterfield reaches non prosecution agreement with US over tax evading clients

News Team, 05/08/2021

Butterfield Bank has entered into a non-prosecution agreement (NPA) with the US Attorney’s Office and agreed to pay $5.6 million to the United States for assisting US taxpayer-clients in opening and maintaining undeclared foreign bank accounts from 2001 through 2013.

The US Attorney said that the NPA was based on bank’s “extraordinary cooperation”, including its efforts in providing 386 client files for non-compliant US taxpayer-c...

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