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Swiss Bank Wegelin Indicted on U.S. Tax Charges
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The U.S. attorney's office in Manhattan filed charges against Swiss bank Wegelin for helping Americans hide $1.2 billion in secret accounts at the bank. Even after UBS was being prosecuted for similiar charges, Wegelin, the oldest bank in Switzerland, is said in the indictment to have pursued the UBS clients to open accounts with Wegelin. Clients were told that Wegelin based in St. Gallen, Switzerland had no overseas business and was less susceptible to legal enforcement. UBS admitted to conspiring to engage in fradulent activity in 2009 and paid a $780 million fine.
Swiss bank Wegelin
02/03/2012
Bank fraud charges filed against the Swiss bank.
Grouped Articles
Swiss Bank Wegelin Indicted on U.S. Tax Charges
Wall Street Journal 02/03/2012
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Wall Street Journal 03/05/2013
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