NEW YORK—The U.S. government is ending its criminal case against Zuercher Kantonalbank for helping wealthy Americans evade taxes after the Zurich lender paid $98.5 million and complied with a three-year deferred prosecution agreement.
In a Friday filing with the U.S. District Court in Manhattan, a federal prosecutor said, “the government will not now proceed with the prosecution of ZKB” because of the lender’s “full compliance” with the August 2018 agreement.
