Banque Pictet, a Swiss bank, confesses to concealing American income from the IRS
Swiss Bank to Pay $122.9 Million for Hiding $5.6 Billion from IRS Geneva-based Banque Pictet & Cie SA has admitted to conspiring with U.S. taxpayers to hide over $5.6 billion from the Internal Revenue Service. The private banking division of the 218-year-old Pictet Group will pay about $122.9 million in restitution and penalties as part…