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S U B S C R I B E
Julius Bär bankers indicted by U.S.
Two Julius Bär bankers have been indicted by U.S. prosecutors for allegedly helping wealthy Americans evade taxes.
U.S. authorities only referred to a Swiss Bank, but Julius Bär confirmed a current and former employee were those indicted.
The bank said in a statement that it is cooperating in the investigation and is one of many banks supporting tax negotiations between Switzerland and the U.S.
The bankers and others are alleged to have helped 180 clients stash $600 million.
About a dozen Swiss banks, including Credit Suisse and Zurich Cantonal Bank, have come under increased pressure from U.S. authorities in recent months.
In 2009 UBS paid $780 million and turned over data on thousands of clients to settle charges against the bank.
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