BKB Reaches DPA With US Department of Justice

Skadden represented Basler Kantonalbank (BKB) in reaching a deferred prosecution agreement (DPA) with the U.S. Department of Justice to resolve a charge that it conspired to help U.S. taxpayer-clients evade their U.S. tax obligations, file false federal tax returns and otherwise hide hundreds of millions of dollars in offshore bank accounts. The DPA resolves a seven-year investigation into the bank by U.S. authorities.