DIGIT-ARC read-only archive · snapshot: July 23, 2026

Oldest Private Swiss Bank Pleads Guilty in US Tax Evasion Case

4 posts · originally from https://geek.digit.in/community/threads/oldest-private-swiss-bank-pleads-guilty-in-us-tax-evasion-case.168439/

MetalheadGautham
MetalheadGautham Original post #1
Jan 4, 2013 at 5:55 AM
Source: Oldest private Swiss bank pleads guilty in US tax evasion case

Wegelin & Co, the oldest Swiss private bank, pleaded guilty on Thursday to a criminal charge of conspiracy for helping wealthy Americans to evade taxes on at least $1.2 billion hidden in offshore bank accounts.

The plea came at a hearing before Judge Jed Rakoff in U.S. district court in Manhattan. Wegelin was the first foreign bank to be indicted by U.S. authorities in recent history. The indictment, announced last February, shook the storied world of Swiss banking.


"Wegelin was aware that this conduct was wrong," Otto Bruderer, a managing partner at Wegelin, said at the hearing.

Interesting read. I hope India sees something here and follows up with its own action.
Hrishi
Hrishi #2
Jan 4, 2013 at 7:03 AM
I don't think they will let this happen in India.
avinandan012
Jan 4, 2013 at 7:41 PM
C'mon don't compare our legal system with uncle sam's.
ssdivisiongermany1933
Jan 6, 2013 at 1:15 PM
Uncle sam never compromises with its national interest ...