US continues to pursue Wegelin executives after bank pleads guilty on tax evasion
Swiss bank will finally close and may face $40m fine
Swiss private bank Wegelin pleaded guilty yesterday to charges of conspiracy to evade US taxes in the first such case in US legal history.
Wegelin, along with three of its client advisers – Michael Berlinka, Urs Frei and Roger Keller – was charged with conspiracy to evade US taxes by the US Justice Department last year.
After the Justice Department began to investigate the involvement of UBS in tax evasion – an investigation that ended with a $780 million payout in 2009 – US authorities
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