The US government has filed a landmark civil lawsuit against banks in Antigua, Panama and Switzerland in an attempt to recover $7 million that it claims are the proceeds of criminal activity.The lawsuit is considered to be of significance to other offshore tax havens because it will test the ability of the US government to enforce home-based judgements in foreign territories against offshore companies who collaborate with money launderers.The US government is suing Swiss American Bank Ltd. and Swiss American National Bank Ltd., which are both registered in Antigua; Swiss American Holding Company S. A. of Panama and Inter-Maritime Bank of Geneva.
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Antigua & Barbuda Articles Banks & Trusts Featured Money Laundering Panama Switzerland USAJanuary 30, 1998
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Antigua & Barbuda Banks & Trusts Money Laundering Panama SwitzerlandKeywords
Antigua International Trust Inter Maritime Bank Peter Herrington Swiss American Bank Ltd. Swiss American Holding Company SA