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.
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Banks & Trusts Bermuda Cayman Islands Fraud Listed Securities