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Vontobel escapes penalty in talks with U.S. DOJ
December 22, 2016 / 4:58 PM / a year ago

Vontobel escapes penalty in talks with U.S. DOJ

ZURICH, Dec 22 (Reuters) - Swiss bank Vontobel has wrapped up talks with U.S. justice officials on whether it helped wealthy Americans dodge taxes and does not have to pay a fine, it said on Thursday.

Bank Vontobel AG three years ago qualified itself as one of the Swiss financial institutions that had not committed any offenses under U.S. tax law. “Its discussions with the U.S. Department of Justice have been concluded without Vontobel having to pay a financial penalty,” it said in a statement. (Reporting by Michael Shields, editing by John Revill)

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