December 22, 2016 / 5:02 PM / 7 months ago

Vontobel escapes penalty in talks with U.S. DOJ

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The logo of Swiss Vontobel private bank is seen at an office building in Zurich, Switzerland September 28, 2016.Arnd Wiegmann

ZURICH (Reuters) - Swiss bank Vontobel (VONN.S) has wrapped up talks with U.S. justice officials on whether it helped wealthy Americans dodge taxes and does not have to pay a fine, it said on Thursday.

Bank Vontobel AG three years ago qualified itself as one of the Swiss financial institutions that had not committed any offenses under U.S. tax law. "Its discussions with the U.S. Department of Justice have been concluded without Vontobel having to pay a financial penalty," it said in a statement.

Reporting by Michael Shields, editing by John Revill

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