The US Department of Justice (DOJ) and the US Internal Revenue Service (IRS) have announced that a Swiss private bank (Wegelin & Co.) entered a guilty plea before a US District Court for conspiring with US taxpayers and others to hide more than USD 1.2 billion in secret Swiss accounts and to evade US taxes on the income earned in those accounts. The announcement was made in a US Attorney Southern District of New York Press Release dated 3 January 2013. According to the Press Release, the Swiss bank, among other things, took the following steps for US tax avoidance: -...