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U.S. Accuses Three Client Advisors of Helping Americans Hide Funds in Switzerland
By Brian Monroe
printU.S. officials Wednesday accused three former client advisors of an unnamed Swiss bank of helping American customers hide over $420 million in offshore accounts. Stephan Fellmann, Otto Huppi and Christof Reist advised their clients to open accounts using code words and shell companies, and helped them to avoid having mail sent to their residences, as part of an effort to keep funds from the Internal Revenue Service, the U.S. Attorney for the Southern District of New York and the IRS Criminal Investigations division said. To avoid tying a client to an undeclared account, the defendants allowed customers to use numbers...
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