Legal News

Swiss Tax Lawyer Pleads Guilty in Conspiracy to Help Americans Avoid Tax
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

In April, charges had been filed against Edgar Paltzer, a former partner at The Swiss Law Firm, and Stefan Buck. While Buck is still to comply, Paltzer was arrested earlier this month at the John F Kennedy Airport when he arrived to US. On Friday, he pleaded guilty in a federal court before US Judge Magistrate Ronald Ellis to conspiracy for helping US taxpayers avoid millions of dollars in taxes.

Thomas Ostrander, Paltzer’s lawyer told the media that Paltzer is cooperating with law enforcement and that he “made a decision to face these charges and come to the US.”

  
What
Where


The matter had become an international issue and in June, the lower chamber of the Swiss Parliament blocked a bill that could have relaxed banking secrecy rules and paved the way for Swiss banks to provide information to the US government on tax-evading US citizens.

Paltzer admitted in court, “I intentionally formed foundations and corporations which permitted these US taxpayers to hide from the IRS (Internal Revenue Service) these accounts and the income earned in these accounts.”

US attorney Preet Bharara said the Paltzer, who had studied in the US, helped US citizens evade taxes.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




In one case Paltzer helped a client transfer millions of dollars through jewelry personally obtained by Paltzer. He moved money around in sham offshore companies and between Swiss banks to hide undeclared accounts of clients.

Paltzer admitted, “I assisted these taxpayers in violating their legal duties. I was aware that this conduct was wrong.”



US authorities have been pursuing Swiss bank accounts of US tax evaders relentlessly. Under pressure, since 2010, UBS financial services company has handed over the data on thousands of its US clients and paid $780 million in fines. In March this year, Switzerland’s oldest bank declared it would close down after a US court convicted it for helping US tax evaders to hide more than $1.2 billion.



 

RELEVANT JOBS

Paralegal for Midtown Real Estate Firm

USA-NY-New York City

Responsibilities include: Handle all duties related to closing documents including: deeds, mem...

Apply now

Associate Attorney

USA-CA-Los Angeles

Abramson Labor Group, a firm that exclusively focuses on Labor & Employment Law, is currently seekin...

Apply now

Workers Compensation Attorney

USA-CA-Los Angeles

Abramson Labor Group, a firm that focuses on Labor & Employment Law, is currently seeking a Workers ...

Apply now

Criminal Law Contract Attorney

USA-CA-San Jose

LEVEL THE PLAYING FIELD! Ideal opportunity for growing or supplementing your practice.  T...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Personal Injury Litigator

USA-VA-Fairfax

Northern Virginia office of our client is seeking a personal injury litigator with 4+ years of stron...

Apply Now

Associate Attorney

USA-CA-Larkspur

Larkspur office of our client seeks an associate attorney with 4-6 years of experience/background pr...

Apply Now

Associate Attorney

USA-MI-Bloomfield Hills

Bloomfield Hills office of a BCG Attorney Search Top Ranked Law Firm seeks an associate attorney wit...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top