NYT: Swiss Bank Pleads Guilty to Tax Law Violations
Swiss bank, Wegelin & Company, admitted to helping some wealthy Americans evade United States taxes by hiding over $1.2 billion in secret accounts. This case marks the first instance where a foreign bank has plead guilty to such violations. The bank will have to pay $74 million in fines and restitution to the United States government.
See Peter Lattman, "Swiss Bank Pleads Guilty to Tax Law Violations," NYTimes.com (Jan. 3, 2013).
Posted by Beth Tolentino, Associate Editor, Wealth Strategies Journal
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