Swiss bank Wegelin pleads guilty in U.S. tax evasion case
NEW YORK Jan 3 (Reuters) - Wegelin, the oldest Swiss private bank, pleaded guilty on Thursday to a criminal charge of conspiracy in helping wealthy Americans to evade taxes on at least $1.2 billion hidden in offshore bank accounts.
The plea came at a court hearing before Judge Jed Rakoff in U.S. District Court in Manhattan. Wegelin was indicted last February on federal charges of conspiracy and fraud.
A Wegelin representative declined to comment on the plea.