US Government Indicts 3 Swiss Bankers

On January 3, 2011, the U.S. Department of Justice (DOJ) and the U.S. Attorney for the Southern District of New York announced the indictment of three Swiss bankers who worked with Wegelin bank in Switzerland. See below for the press release. According to the indictment and DOJ press release, the three defendants conspired with U.S. taxpayers and others to hide more than $1.2 billion in assets from the IRS in undeclared accounts of U.S. taxpayers at Bank A, which media sources report as Wegelin.^[1]