Daniel Walchli News Today

He took part in a scheme to help wealthy US clients hide more than $81 million in assets. Read more at straitstimes.com.

An executive at a Swiss holding company was sentenced to no prison time for participating in a scheme to help US taxpayers hide more than $60 million in assets in a fraudulent arrangement known as the “Singapore Solution.”

(Bloomberg) -- A Swiss banker pleaded guilty to fraud for helping an unnamed hedge fund manager and other US taxpayers hide $60 million in assets. Daniel Walchli, who worked at Zurich’s Privatbank IHAG, entered his plea Thursday to a single count of conspiracy to defraud the US. The charge carries a maximum sentence of five years in prison, but Manhattan federal prosecutors agreed not to seek a punishment outside of 24-to-30 months. Walchli, 55, was charged in 2021 along with three other Priva...

(Bloomberg) -- A Swiss firm and five foreign bankers were charged in the U.S. with tax fraud conspiracy, with prosecutors alleging they helped three American taxpayers hide $60 million in assets by moving the money to other secretive jurisdictions.

The US has indicted six foreign nationals and a Swiss company on charges of a conspiracy to defraud the Internal Revenue Service (IRS) by concealing assets and