Oldest Swiss private bank is newest U.S. target


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A man is reflected in a window of Switzerland's Wegelin bank headquarters building in St. Gallen in this January 29, 2012 file photo. The U.S. Justice Department on February 2, 2012, acting on plans it had been making for weeks, indicted Wegelin on charges of enabling wealthy Americans to evade taxes on at least $1.2 billion from 2002 through last year. The charges made Wegelin the first overseas bank in history to be indicted by U.S authorities and marked a milestone in a burgeoning American crackdown on Swiss bank secrecy and efforts to force banks to turn over client names. The sale and the subsequent indictment effectively brought an end to the storied 270-year-old bank. REUTERS/Miro Kuzmanovic/Files