US government files $190 million lawsuit against Deutsche Bank
NEW YORK, December 9 (RAPSI) – The US government filed a $190 million tax evasion lawsuit against Deutsche Bank. The suit names several other defendants, including Wells Fargo, TASS reports on Tuesday.
The lawsuit seeks more than $190 million in taxes, penalties and interest, according to U.S. Attorney for the Southern District of New York Preet Bharara. The alleged tax fraud includes the use of “insolvent” shell companies to help bank clients avoid US taxes.
Deutsche Bank spokesperson Renee Calabro said the bank “fully addressed” the matter in a 2009 agreement with the IRS, in which the government had “abandoned” the theory that the bank was liable for the taxes.
“It is not clear to us why we are being pursued again for the same taxes,” the bank said in a statement. It said it would “vigorously” fight the lawsuit.
Analysts point out that the US government has recently taken a harsher attitude toward large banks working in the country.
In early July, US regulators forced France’s BNP Paribas to pay an $8.8 billion fine for dealing with countries that were subject to US sanctions, namely Iran, Sudan and Cuba. US prosecutors said the bank had engaged in a “long-term, multi-jurisdictional conspiracy” involving currency trade.
In May 2014, Swiss bank Credit Suisse was fined $2.8 billion for allegedly helping US citizens evade taxes.