Ex-Julius Baer Banker Agrees To Pay $1.6M For Tax Evasion

Law360, New York (June 28, 2013, 10:35 PM EDT) -- A former banker for Swiss bank Julius Baer Group Ltd. on Friday admitted to charges that he evaded U.S. tax laws by not properly reporting personal foreign bank accounts he controlled in Switzerland while residing in California, agreeing to pay a penalty of nearly $1.6 million.

Pius Kampfen, who had worked as an executive at Julius Baer Bank in San Francisco at the time of his retirement, had failed to file the Report of Foreign Bank and Financial Accounts, or FBAR, which the U.S. relies on...
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