U.S. Indicts Swiss Lawyer and Swiss Banker with Conspiracy to Hide Swiss Accounts

On April 16, 2013, U.S. law enforcement officials announced the indictment of Edgar Paltzer, a partner at a Swiss law firm and a registered attorney in the State of New York, and Stefan Buck, the head of private banking and a member of the executive committee at a bank headquartered in Switzerland.  The indictment charges each with one count of conspiring with U.S. taxpayer-clients and others to hide millions of dollars in offshore accounts from the IRS and to evade U.S. taxes on the income in those accounts in violation of 26 U.S.C. §§ 7201 and 7206(1) and 18 U.S.C. § 371.[1]