| The U.S. Justice Department says it has indicted Switzerland's oldest private bank, claiming it conspired with Americans and others to hide more than $1.2 billion in client assets from the Internal Revenue Service. Justice officials said Thursday that they also seized more than $16 million from Wegelin & Co.'s correspondent bank in the U.S. The move comes about a month after U.S. authorities indicted three client advisers at the St. Gallen, Switzerland-based bank on similar charges. |
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