Coutts & Co to pay additional $27.9 million under U.S. agreement

 Coutts & Co to pay additional .9 million under U.S. agreement

WASHINGTON (Reuters) - Swiss bank Coutts & Co Ltd will pay an additional $27.9 million under an addendum to a 2015 non-prosecution agreement, the U.S. Justice Department said on Friday.

The new payment comes after the Swiss bank paid a $78.4 million penalty under the original non-prosecution agreement signed on Dec. 23, 2015. In the new agreement, Coutts acknowledged it should have disclosed additional U.S.-related accounts at that time, the department said in a statement.

(Reporting by Doina Chiacu; Editing by Lisa Lambert)

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Updated Date: Dec 21, 2019 03:07:33 IST