Almost feels like some sort of corruption. Just pay the fine and you are off the hook !!!
Swiss banks to pay $130 million, avoid charges on aiding U.S. tax evasion
Three Swiss banks, including a unit of France's Crédit Agricole SA CRAGO.UL, will pay a total of more than $130 million to the U.S. Justice Department to avoid possible prosecution for helping Americans evade taxes, the department said on Tuesday. The Zurich-based unit of Crédit Agricole will pay $99.2 million, the largest share of the total penalty. The $130 million sum also includes a $24.2 million from Dreyfus Sons & Co Ltd, and $7.7 million from Baumann & Cie, Banquiers, both in Basel, Switzerland. Spokespeople for the three banks could not be immediately reached for comment outside of Swiss business hours on ... (full story)