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Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin, which was established in 1741, has also agreed to pay $57.8m…in fines to US authorities. It said that once...
- Related stories: Swiss bank Wegelin to close after pleading guilty in New York court to helping US citizens evade taxes - will also pay fine of $57.8m
- Related companies: UBS Wegelin
Author: Martin de Sa'Pinto and Lynnley Browning, Reuters
...[At the beginning of February] the U.S. Justice Department, acting on plans it had been making for weeks, indicted the 270-year-old bank on charges of enabling wealthy Americans to evade taxes on at least $1.2 billion from 2002 through last year.....