Coutts & Co to pay additional $27.9 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
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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