Zurich Bank Employees Being Probed Over Tax Shelters

Law360, New York (December 20, 2012, 4:53 PM EST) -- Publicly held Swiss bank Zurcher Kantonalbank on Thursday disclosed that two current employees and one former employee have been caught in a U.S. investigation into tax evasion using offshore bank accounts.

The news comes one day after a New York federal grand jury indicted three former Swiss bankers — Stephan Fellmann, Christof Reist and Otto Huppi — who allegedly helped their clients dodge $423 million in U.S. income taxes. The indictment did not name the Swiss bank in question, but all three have worked at Zurcher,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.