The US’s Internal Revenue Service – Criminal Investigation division (IRS-CI) - has filed criminal charges against Zurich-based Bank Julius Baer & Co. Ltd. The authority claims the Swiss bank “conspired” with its US taxpaying clients to evade tax on billions of dollars.

Two Julius Baer advisers, Daniela Casadei and Fabio Frazzetto, pleaded guilty yesterday (04/02/2016) to aiding clients in tax evasion. The pair appeared in a Manhattan court after being charged in 2011 and being “at large” until they came forward on 1 February. They will be sentenced on 12 August 2016.

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