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Julius Baer bankers busted for hiding $600 million

Client advisers charged with helping U.S. customers dupe the IRS

So much for supposedly being neutral … scores of Swiss bankers are seemingly getting caught by the long arm of the American law lately for helping enterprising U.S. citizens cheat on their taxes.

The latest such instance is a pair of Julius Baer Group Ltd. client advisers, Daniela Casadei and Fabio Frazzetto, who were charged with helping American customers evade taxes. Reports indicate the advisers conspired with more than 180 U.S. clients and others at the bank to hide about $600 million in assets from the Internal Revenue Service (IRS).

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