January 3, 2013 / 4:25 PM / 5 years ago

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.

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