3 Swiss Bankers Indicted In $423M US Tax Evasion Case

Law360, New York (December 19, 2012, 6:37 PM EST) -- A New York federal grand jury on Wednesday indicted three former Swiss bankers who allegedly helped their clients dodge $423 million in U.S. income taxes by hiding money in offshore bank accounts.

Switzerland residents Stephen Fellmann, Christof Reist and Otto Huppi — a U.S. citizen — allegedly helped their taxpayer clients evade U.S. income taxes by opening and managing undeclared accounts at an unnamed Swiss bank, according to an indictment filed Wednesday by   U.S. attorney Preet Bharara.

The trio allegedly worked as client advisers at...
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