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Oldest Swiss bank faces penalties after aiding Americans in tax evasion
The oldest Swiss bank, Wegelin & Co., is wrapping up an existence that has spanned more than 270 years after pleading guilty in a US case involving Americans who hid funds in secret accounts abroad. Wegelin, which was founded in 1741 and based in St. Gall, eastern Switzerland, unveiled late…
U.S. charges Swiss bankers for hiding $1.2 billion
NEW YORK — Three Swiss bankers were indicted in the United States Tuesday, accused of hiding $1.2 billion in assets of US clients seeking to avoid declaring their full wealth to tax authorities. The bankers, Michael Berlinka, Urs Frei and Roger Keller, were accused of “conspiring with US taxpayers and…
UBS trader appears in court, does not seek bail
LONDON (Reuters) – UBS trader Kweku Adoboli did not seek bail when he made a brief court appearance in London on Thursday for a hearing in a case that has cost the Swiss bank $2.3 billion. Adoboli faced an additional charge of fraud dating between October 2008 and December 2010…
Father of UBS trader says he is ‘man of integrity’
The father of the trader charged over an alleged $2 billion fraud at Swiss bank UBS said Saturday he was preparing to fly to London to be with his son, whom he described as a “man of integrity”. John Adoboli, the father of 31-year-old trader Kweku Adoboli, urged the world…
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