Justice Department calls Swiss Bank a "fugitive"

[xchrom]

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/02/10/national/a144412S39.DTL&type=business

The Justice Department is calling Switzerland's largest private bank a fugitive from justice after it didn't show up for a court hearing in New York.

The bank was indicted on Feb. 2. Since then, U.S. officials haven't found a way to move the case forward.

Wegelin & Co. is charged with conspiring with American clients to hide $1.2 billion from the Internal Revenue Service.

In a statement issued in Switzerland after the court hearing, the bank said it had not been properly served with the criminal summons. It said it was therefore under no obligation to appear in court. As for the charges, the bank suggested that there was a conflict between US and Swiss law.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/02/10/national/a144412S39.DTL#ixzz1m4myJKPK

[DCKit]

1. After three years, Eric Holder is suddenly on the job?

If I were a Swiss banker, I'd come in now, for a spanking and some public humiliation.

The next Obama Administration might not be so forgiving.

[Scuba]

2. Thanks for brightening a snowy Saturday morning.

[Octafish]

3. Must not have a whistleblower to prosecute.

Poor bank.

[Firebrand Gary]

4. By chance, is this where Ann Romney was hiding that 3 million?

I am pretty sure I remember a Swiss bank account in addition to the Cayman islands one.