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On March 11, 2021, the United States Department of Justice (DOJ) and the Internal Revenue Service (IRS) announced the settlement of criminal charges with Rahn+Bodmer Co. (R+B), the oldest private bank in Zurich (founded in 1870). R+B agreed to the filing of a criminal information against them with one count of conspiring to assist U.S. account holders evade their U.S. tax obligations, file false federal tax returns, and otherwise defraud the IRS by concealing millions of dollars in offshore bank accounts at R+B.[1]
[1] U.S. Department of Justice, Zurich’s Oldest Private Bank Admits to Helping U.S. Taxpayers Hide Offshore Accounts from IS, Press Rel., Mar. 11, 2021 https://www.justice.gov/usao-sdny/pr/zurich-s-oldest-private-bank-admits-helping-us-taxpayers-hide-offshore-accounts-irs.