NEW YORK: (Reuters) - Prosecutors accused three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities, and sources briefed on the matter said the three worked for Wegelin & Co, one of Switzerland's oldest private banks.
The office of the Manhattan U.S. Attorney said in a statement that the indictment charges the bankers with trying to "capture business lost by UBS AG and another large international Swiss bank in the wake of widespread news reports that the Internal Revenue Service was investigating UBS" in 2008 and 2009.
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