U.S. Justice Department Enters into Deferred Prosecution Agreement with Julius Baer and Guilty Pleas With Two of Its Bankers

On February 4, 2016, the U.S. Department of Justice announced the filing of criminal charges against Bank Julius Baer & Co. Ltd. (BJB), a financial institution headquartered in Zurich, Switzerland.  BJB is charged with conspiring with many of its U.S. taxpayer-clients and others to help U.S. taxpayers hide billions of dollars in offshore accounts from the IRS and to evade U.S. taxes on the income earned in those accounts.