US court asks Swiss bank to pay $58 m for tax evasion

Offshore banking accounts have become a hot topic, especially since Sweden's bank Wegelin has been ordered to pay $58 million for aiding clients in tax evasion, as it was published by swissinfo.ch on January 3, 2013 in and article titled: "Wegelin ...

As European banks such as Wegelin feel the pinch of IRS enquiries into possible tax evasion, European governments are opening their own enquiries into American corporate giants such as Google, Amazon, and Starbucks. points out that the New York ...

Business Banks in turmoil Image Caption: Switzerland is desperate to avoid another Wegelin disaster (Keystone) A Swiss banker and a lawyer have been charged in the United States with helping tax cheats. This heaps further pressure on the beleaguered ...

Switzerland is on the brink of a deal to settle a dispute with the United States over Swiss banks accused of helping Americans evade tax. "We hope that we will shortly be at the finishing line," finance minister Eveline Widmer-Schlumpf told Swiss ...

In our most recent discussion of the IRS's Offshore Enforcement Initiatives, found here, we discussed the John Doe Summons recently issued by the U.S. Department of Justice to Wells Fargo seeking information about First Caribbean National Bank and ...

The US Internal Revenue Service (IRS) has turned its sights on the Caribbean as part of its commitment to global enforcement in order to stop the use of foreign bank accounts to evade US taxes. A John Doe summons has been issued seeking information ...

NPB Neue Privat Bank AG, a Zurich-based private bank and asset manager, said it's part of a group of Swiss wealth managers cooperating with a U.S. probe into alleged offshore tax evasion by Americans. As with many other Swiss banks with U.S.

, the United States Department of Justice issued a John Doe Internal Revenue Code summons to Wells Fargo Bank, as a provider of correspondent bank services for Canadian Imperial Bank of Commerce's First Caribbean International Bank (FCIB), requiring ...

Zurich-based Bank Frey & Co may try to register with the US Securities and Exchange Commission to manage customer assets in the country, according to Dow Jones, quoting unnamed sources. Bank Frey & Cobelieves that obtaining a local registration ...