Dec 19 Three Swiss bankers accused of conspiring
with American clients to hide more than $420 million from the
tax-collecting U.S. Internal Revenue Service were indicted, the
U.S. Attorney's Office in Manhattan said on Wednesday.
The indictment named Stephan Fellmann, Otto Huppi and
Christof Reist, all former client advisers with an unnamed Swiss
bank. None of the bankers have been arrested, authorities said.
Their attorneys were not immediately known.
The indictment said the unnamed bank did not have offices in
the United States.
Banking secrecy is enshrined in Swiss law and tradition, but
it has recently come under pressure as the United States and
other nations have moved aggressively to tighten tax law
enforcement and demanded more openness and cooperation.
In April, two Swiss financial advisers were indicted on U.S.
charges of conspiring to help Americans hide $267 million in
secret bank accounts.
In January, prosecutors charged three Swiss bankers with
conspiring with wealthy taxpayers to hide more than $1.2 billion
in assets from tax authorities.
UBS AG, the largest Swiss bank, in 2009 paid a $780 million
fine as part of a settlement with U.S. authorities who charged
the bank helped thousands of wealthy Americans hide billions of
dollars in assets in secret Swiss accounts.