The case

The Swiss insurer put to bed a seven-year criminal investigation into how it helped Americans hide nearly $1.5 billion offshore. For more see link1, link2 and link3.

Source: SwissLife, finews & US DoJ

The commentary

In order to pay the claimed amount of approximately USD 77.3 million, provisions of CHF 70 million have been made against the 2020 financial year.

 

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