AG TRADING GROUP S.A.
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The Swiss Bank Program, which was announced on Aug. Swiss banks eligible to enter the program were required to advise the department by Dec. Banks already under criminal investigation related to their Swiss-banking activities and all individuals were expressly excluded from the program. Provide detailed information on an account-by-account basis for accounts in which U.
Provide detailed information as to other banks that transferred funds into secret accounts or that accepted funds when secret accounts were closed. Agree to close accounts of accountholders ag trading group sa panama fail to come into compliance with U.
According to the terms of the non-prosecution agreement signed today, EFG agrees to cooperate in any related criminal or civil proceedings, demonstrate its implementation of ag trading group sa panama to stop misconduct involving undeclared U. UntilEFG conducted a U. EFG offered a variety of traditional Swiss banking services that it knew could assist, and did in fact assist, U. At least 72 business trips to the United States took place in connection with seven EFG Bank private bankers between and So I never will cary [sic] a computer over the border.
The Qualified Intermediary regime provided a comprehensive framework for U. Notwithstanding this requirement, EFG chose to continue to service U. For example, when asked in Ag trading group sa panama whether an account should be considered a U.
If not, suggest they use a pic [private investment company]. While EFG did not provide direct structuring services to U. EFG also serviced certain U. Insurance wrappers were marketed by third-party providers in the wake of the UBS investigation as a means of disguising the beneficial ownership of U.
These particular accounts were all held in the name of insurance providers. By the operation of Swiss bank secrecy laws, the U. Ag trading group sa panama connection with some of the accounts that U. Certain accounts were closed at EFG, since Aug. EFG, including senior management in certain instances, assisted U. With respect to assets transferred to accounts in countries other than the United States and Switzerland upon account closure, significant amounts were transferred to numerous other jurisdictions.
For example, the following amounts were transferred in connection with the closure of U. In connection with the closure of U. EFG has cooperated with the department and provided timely and comprehensive information to the U. Among other things, EFG provided detailed information concerning the operation of its U.
EFG also provided responsive, specific and actionable information to the department concerning associated persons, entities and areas of concern for use in other ongoing and potential department investigations. With each agreement signed, the probability that these criminals will be found grows even more certain. CI and our partners will vigorously pursue those who hide offshore accounts and those who aided binarymate broker advantages and disadvantages illegal activity.
Justice News Department of Justice. Thursday, December 3, Under the program, banks are required to: Make a complete disclosure of their cross-border activities; Provide detailed information on an account-by-account basis for accounts in which U. Swiss banks meeting all of the above requirements ag trading group sa panama eligible for a non-prosecution agreement.