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Deutsche Bank to Pay $95 Million to Resolve U.S. Tax Claims

  • U.S. claimed bank used shell companies to evade U.S. taxes
  • Settlement follows bank’s 2010 tax deal with prosecutors
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Deutsche Bank AG agreed to pay $95 million to settle U.S. claims it used underfunded shell companies to evade taxes, the second time since 2010 that it resolved a government tax case.

The U.S. sued the bank in 2014 after its 1999 purchase of a company that held stock whose sale would trigger more than $100 million in taxable gains. The government sought $190 million, claiming the bank structured a deal with shell companies to avoid paying the taxes.