Cayman National to pay $5M in US tax evasion probe

Cayman National

(CNS Business): Cayman National Corporation is expecting to part with some $5 million in fines to the US authorities in relation to what the bank called “past wrongdoing” by two of its companies, Cayman National Securities and Cayman National Trust Company. In a report on the bank’s website covering its fourth quarter report for 2015, CNC revealed that the companies have been under a criminal investigation by the United States Department of Justice for potential violations of US criminal law regarding tax evasion.

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