Economic

Swiss bank Wegelin to close after US tax evasion fine

“Switzerland’s oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes.

Wegelin, which was established in 1741, has also agreed to pay $57.8m (£36m; 44m euros) in fines to US authorities.”

Source:BBC News – Swiss bank Wegelin to close after US tax evasion fine

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