Financial Crime Financial Crime

Swiss Life agrees to pay $77 million for hiding US assets from tax authority

By Richard Vanderford
  • 14 May 2021 12:39
  • 14 May 2021 12:39
Swiss Life, Switzerland's largest insurance company, will pay about $77 million in a US settlement after admitting to helping US taxpayers hide their money.

The insurance company and several subsidiaries hid more than $1.4 billion in US assets from the Internal Revenue Service using insurance policies, New York federal prosecutors said today. The

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