Swiss Adviser Charged With Helping Clients Hide $184M

Law360, New York (July 21, 2011, 2:32 PM EDT) -- Federal officials on Thursday announced conspiracy charges in New York against a Swiss financial adviser who allegedly helped dozens of U.S. taxpayers shield more than $184 million in assets from the Internal Revenue Service.

An indictment filed in Manhattan federal court accuses Beda Singenberger, 57, owner of Zurich-based firm Sinco Treuhand AG, of hiding the identities of his clients by using shell corporations to establish accounts at Swiss banks.

When U.S. law enforcement was investigating UBS AG in 2008, Singenberger moved his clients' accounts to other...
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