Three men
who worked for unnamed bank accused of conspiring with US clients to hide more
than $420m, says attorney's office
guardian.co.uk,
Reuters, Thursday 20 December 2012
Three Swiss bankers accused of conspiring with US clients to hide more than $420m (£258.4m) from the tax-collecting US internal revenue service have been indicted, according to the US attorney's office in Manhattan.
Three Swiss bankers accused of conspiring with US clients to hide more than $420m (£258.4m) from the tax-collecting US internal revenue service have been indicted, according to the US attorney's office in Manhattan.
The
indictment named Stephan Fellmann, Otto Huppi and Christof Reist, all former
client advisers with an unnamed Swiss bank. None of the bankers have been
arrested, authorities said. Their attorneys were not immediately known. The
indictment said the unnamed bank did not have offices in the United States.
Banking
secrecy is enshrined in Swiss law and tradition, but it has recently come under
pressure as the United States and other nations have moved aggressively to
tighten tax law enforcement and have demanded more openness and cooperation.
In April,
two Swiss financial advisers were indicted in the US on charges of conspiring
to help Americans hide $267m in secret bank accounts.
In January,
prosecutors charged three Swiss bankers with conspiring with wealthy taxpayers
to hide more than $1.2bn in assets from tax authorities.
UBS, the
largest Swiss bank, in 2009 paid a $780mn fine as part of a settlement with US
authorities who charged the bank with helping thousands of wealthy Americans to
hide billions of dollars in assets in secret Swiss accounts.
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