Swiss Private Banks As Wegelin & Co. Ordered To Pay Fine To U.S. Authorities


A cyclist rides her bicycle past the headquarters of Notenstein... News PhotoBank,Bank Manager,Banking,Bicycle,Business,Corporate Business,Cycling,Economy,Environment,Europe,Finance,General View,Headquarters,Riding,Switzerland,Vertical,White Collar Crime,ZurichPhotographer Collection: Bloomberg 2013 BloombergA cyclist rides her bicycle past the headquarters of Notenstein Privatbank AG, formerly the headquarters of Wegelin & Co., in St. Gallen, Switzerland, on Wednesday, March 20, 2013. Wegelin & Co., who sold Notenstein Privatbank AG to Raiffeisen Group last year, were ordered to pay U.S. authorities almost $58 million at the end of a criminal case after the Swiss bank pleaded guilty to helping American taxpayers hide more than $1.2 billion from the Internal Revenue Service. Photographer: Gianluca Colla/Bloomberg via Getty Images