Butterfield Bank has turned over client records and agreed to forfeit $4.9 million that it received in fees and pay restitution of $704,000 under a Non-Prosecution Agreement with the U. S. Department of Justice in which the bank admitted “criminal conduct” by fraudulently helping U.S. taxpayers evade taxes via its Bermuda and Cayman Islands operations.
Articles Banks & Trusts Bermuda Cayman Islands Featured Fraud Listed Securities Tax USAAugust 3, 2021
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Banks & Trusts Bermuda Cayman Islands Fraud Listed Securities