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Swiss Bank Wegelin Pleads Guilty to Conspiracy to Evade Taxes

Offshore Updates

Posted in on January 4, 2013

Switzerland’s oldest bank, Wegelin & Co., has plead guilty to conspiracy charges in assisting U.S. taxpayers to commit tax evasion through undisclosed offshore accounts. Wegelin will pay approximately $74 million in fines and restitution fees. The Bank will also close its doors permanently, ending two and a half centuries of private banking business.

One major concern for U.S. taxpayers with undisclosed offshore accounts remains open: whether the Bank has already or will later turn over the names of its U.S. clients to U.S. authorities.

The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through the IRS Amnesty Program. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!

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