DOJ Charges 2 Swiss Bankers In $600M Offshore Scheme

Law360, New York (October 11, 2011, 9:50 PM EDT) -- Federal prosecutors in New York on Tuesday accused two Swiss bankers of participating in a scheme to hide more than $600 million from the Internal Revenue Service in offshore accounts.

Swiss Bank No. 1 client advisers Daniela Casadei and Fabio Frazzetto were charged with conspiring to defraud the U.S. by helping their clients hide assets in accounts held by relatives or sham corporate entities or set up under fictional names, according to the indictment filed in the Southern District of New York.

Casadei and Frazzetto worked...
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