3 Swiss bankers accused of $1.2B U.S. tax fraud

NEW YORK - Three Swiss bankers are charged in a New York indictment with conspiring to hide more than $1.2 billion of taxpayer assets from the Internal Revenue Service.

Federal authorities said in a release that the indictment was returned Tuesday. They said the bankers worked as client advisers at the Zurich branch of a bank they identified only as "Swiss Bank A." They said the men conspired with U.S. taxpayers and others to hide the existence of Swiss bank accounts and the income they generated from the IRS.

They said the men engaged in the conspiracy in 2008 and 2009 following news reports that the IRS was investigating UBS AG and another large international Swiss bank for helping U.S. taxpayers evade taxes. The defendants live in Switzerland.

Swiss banks, which have a longstanding practice of offering clients secrecy, have come under steady attack by U.S. authorities, highlighted by the probe into banking giant UBS which led to a deal between US and Swiss authorities, reports Agence France Presse.

"60 Minutes" report on the eroding of Swiss banking secrecy

[longtree-2009]

wonder who they are, these americans. ubs has locations here in the USA and many americans work for that bank. surely, those american UBS employees know who the culprits are who are evading taxes with UBS assistance. bet those americans continue to work for UBS here in the USA.

[venusvegasvada]

Oh, they must have it all wrong. According to the Republicans, the Rich are paying waaaay more than their fair share of taxes already. They are too busy pumping their money back into our economy, trying to hire people and jump start the economy because, dang it, that's what Rich people do!

These people trying to hide money in secret foreign accounts must be somebody else. Middle class or the poor maybe? Yeah, that's it. It's poor people, hiding 1.2 billion overseas, yeah, that's the ticket...

[notyrants]

Names like treason or traitor might come to mind but globalization is a privilege for the global plutocrats who keep the serfs in their place with laws specific to serfdom.

[jtdev1]

I want to see every last one of those Americans that were part of this JAILED!

Not just the 3 men, I want EVERYONE involved JAILED!

and take all their 1.2 Billion in assets.

[76SpiritOf]

Why jail them, it will cost money.

Death by firing squad is a better solution.

[whozzzzure]

I want my money from these crooks. How about the rest of you Americans? This money belongs to the IRS -- and we ARE the IRS! More rich people defrauding the rest of us so they can get richer and not pay their fair share.

When are we all going to be mad as hell and not take this anymore?

[notyrants]

Your payroll tax is taken out every week.... David Cay Johnston will tell you how the super rich avoid taxes big time. Equal justice under the law is a part of the constitution the supreme court willfully ignores. May Alito, Scalia, Roberts and Thomas meet their maker and rot in hell.

[notyrants]

Switzerland.... aiding and abetting global crimes against global civilization.

[fedup12]

GASP...