US: DOJ CHARGES SWITZERLAND’S LARGEST INSURANCE COMPANY AND 3 SUBSIDIARIES WITH CONSPIRING TO CONCEAL FROM THE IRS MORE THAN $1.4 BILLION IN OFFSHORE INSURANCE POLICIES

A release on Mondo Visione on 14 May said that the DoJ has filed a criminal information charging Swiss Life Holding AG (Swiss Life Holding), Swiss Life (Liechtenstein) AG (Swiss Life Liechtenstein), Swiss Life (Singapore) Pte. Ltd. (Swiss Life Singapore), and Swiss Life (Luxembourg) S.A. (Swiss Life Luxembourg) with conspiring with US taxpayers and others to conceal from the IRS more than $1.452 billion 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.  The DoJ also announced a deferred prosecution agreement with the entities 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.

https://mondovisione.com/media-and-resources/news/us-department-of-justice-switzerlands-largest-insurance-company-and-three-subs/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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