Bank pays to settle fraud case
DEUTSCHE Bank, Germany’s biggest bank, has agreed to pay US$95 million to settle a tax fraud case brought by the US Justice Department, the federal prosecutor in charge has said.
Preet Bharara, the US attorney for the Southern District of New York, said the bank used a “web of shell companies and calculated transactions” to try to evade paying tens of millions of dollars in taxes.
The US government “has made Deutsche Bank admit to its actions designed to avoid taxes and pay $95 million to the United States to account for this conduct, the prosecutor said in a statement on Wednesday.
The case dates back to 2000 with Deutsche Bank’s acquisition of a US holding company, Charter, which had stock in Bristol-Myers Squibb, the pharmaceutical firm.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.