customers as an alternative to Swiss banks. authorities’ stepped-up offshore tax enforcement as an opportunity to pitch themselves to tax-evading U.S. customers, and provided services that concealed the policies and other assets from the IRS. “The Swiss Life Entities offered private placement life insurance policies and related investment accounts to U.S. Attorney Audrey Strauss for the Southern District of New York. “As they admit, Swiss Life and its subsidiaries sought out and offered their services to U.S. “Financial enablers here and abroad – and the taxpayers seeking their services – should know that we will continue to identify and unmask such schemes.”
Goldberg of the Justice Department’s Tax Division. tax evaders seeking a new way to hide their offshore assets, in light of heightened Justice Department and IRS tax enforcement efforts,” said Acting Deputy Assistant Attorney General Stuart M. “Swiss Life today is held responsible for creating and marketing specially designed insurance products to U.S. If the Swiss Life Entities abide by all of the terms of the Agreement, the government will defer prosecution on the information for three years and then seek to dismiss the charge. Treasury, which includes restitution, forfeiture of all gross fees, and a penalty component. Further, as part of today’s resolution, the Swiss Life Entities agreed to pay approximately $77.3 million to the U.S. The Agreement requires the Swiss Life Entities to refrain from all future criminal conduct, enhance remedial measures, and continue to cooperate fully with further investigations into hidden insurance policies and related policy investment accounts. The Justice Department also announced a deferred prosecution agreement with the Swiss Life Entities (“the Agreement”) under which they agreed to accept responsibility for their criminal conduct by stipulating to the accuracy of the Statement of Facts attached to the Agreement.
taxpayers and others to conceal from the IRS assets held in offshore insurance policies, including more than 1,600 insurance wrapper policies, and related policy investment accounts in banks around the world and the income generated in these accounts. (Swiss Life Luxembourg), collectively, the “Swiss Life Entities,” with conspiring with U.S. (Swiss Life Singapore), and Swiss Life (Luxembourg) S.A. The Department of Justice today filed a criminal information charging Swiss Life Holding AG (Swiss Life Holding), Swiss Life (Liechtenstein) AG (Swiss Life Liechtenstein), Swiss Life (Singapore) Pte.
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