A Swiss private bank has been ordered to pay over $10 million to the United States as part of a resolution for a criminal tax investigation.
LLB Verwaltung (Switzerland) AG, formerly known as Liechtensteinische Landesbank (Schweiz) AG, (LLB-Switzerland), will pay a penalty of $10,680,554.64 to the US.
According to the terms of the non-prosecution agreement, LLB-Switzerland has also agreed to cooperate in any related criminal or civil proceedings in return for the justice department not prosecuting the company for tax-related criminal offenses.
According to the statement of facts agreed to by the parties, LLB-S...