Julius Baer was beared with a massive fine

Julius Baer Bank will pay US Govt over half billion dollars by Feb. 9. 2016 

According to the US Attorney's Office, SDNY, the Bank, Julius Baer of Zurich Switzerland was charged with conspiring with US Taxpayers to avoid paying taxes and to hide their money. As part of the deferred prosecution agreement, Julis Baer agrees to pay the US Government the whopping fine of 547 million dollars by February 9, 2016.

Moreover two of the bank's client advisers, DANIELA CASADEI and FABIO FRAZZETTO, pled guilty in Manhattan federal court today. They each face up to five years upon sentencing. 
To see the entire story, go here....http://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-criminal-charges-against-bank-julius-baer-switzerland.

To see what they will face in federal prison, go here....http://www.amazon.com/PRISON-expect-Federal-Bureau-Prisons-ebook/dp/B011GTWLOG


If you read the story on the government web site, it does not say where the half billion dollars will go. Will it go to feed the hungry, the homeless, or to help pay for the unemployed struggling Americans? Who is responsible to decide where this huge amount of money will go? Will it go to pay off the national debt?  

Will the bank have to sell off assets to pay the fine? Will they have to sell their gold signs?

The US Attorney should tell the American public where the 547 million dollar forfeiture will go and how it will be spent. It just looks more kosher, transparent and honest.  They should at least link the article below to their website.

By googling where the money goes, I found this....https://www.ncjrs.gov/App/publications/abstract.aspx?ID=199954

"Both Federal and State governments have enacted laws to specify not only where forfeited money can go but also for what purposes the money may be used. At the Federal level, civil forfeitures are authorized under Section 881 of the Comprehensive Drug Abuse Prevention and Control Act. In 1984 the act was amended to allow proceeds from civil forfeitures to be deposited in the U.S. Treasury's General Fund. This amendment was changed in 1986 to allow Federal law enforcement agencies to keep proceeds related to the forfeiture. It also established "equitable sharing," which gives State and local agencies most of the proceeds of forfeitures (up to 80 percent) if they were involved in the enforcement action. States, if they choose, can receive substantial revenues not only from Federal forfeitures but also from their own enforcement actions under State law. Most jurisdictions allow for forfeited property to be kept for official use. An even higher number of jurisdictions (83 percent) allow for proceeds from forfeitures to be used to pay forfeiture expenses. Almost 9 out of 10 jurisdictions specify that funds from forfeitures are to be given to law enforcement agencies or are to be used for law enforcement purposes. State and Federal laws have allowed law enforcement much leeway in the use of forfeited funds; however, only a small number of States (fewer than 20 percent) use forfeiture proceeds for drug treatment or prevention, even though research has indicated that treatment and education may be more successful in reducing drug-related crime than law enforcement efforts. Coupled with the lowered due process protections in civil forfeiture procedures, law enforcement agencies have a strong incentive to promote the "war on drugs" as a means of meeting budget demands through forfeitures, even though evidence of the effectiveness of this "war" is lacking. A table shows a State-by-State disposition of funds from forfeitures by type of disposition. 22 references" 547 million dollars is not pocket change. It is good government policy to get an accounting where it is going.