Deutsche Bank To Fork Over $95M In US Tax Avoidance Settlement

Law360, New York (January 4, 2017, 8:20 PM EST) — Deutsche Bank AG will fork over $95 million to end the U.S. government’s suit accusing it of trying to avoid paying taxes by setting up shell companies, according to a settlement approved Wednesday in a New York federal court.

The settlement comes after the government sued Deutsche Bank in December 2014 for allegedly engaging in a tax evasion scheme by setting up shell companies to hide profits on the appreciation of stock that the bank purchased in 1999. (AP) The settlement, which received the stamp of…

Law360

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