Liechtenstein-Related Swiss Bank Settles Tax Enabler Case with U.S. for $10.6 Million

On July 31, 2019, the United States Department of Justice (DOJ) agreed to a resolution with LLB Verwaltung (Switzerland) AG, formerly known as “Liechtensteinische Landesbank (Schweiz) AG (LLB-Switzerland), a Swiss-based private bank. LLB-Switzerland agreed to pay a penalty of $10,680,554.64 to the U.S. and cooperate in any related criminal or civil proceedings in return for DOJ’s agreement not to prosecute the company for tax-related criminal offenses committed by LLB-Switzerland.[1]