Swiss Asset Manager Admits He Helped Americans Evade Taxes

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A former Swiss asset manager pleaded guilty to helping U.S. clients hide millions of dollars in offshore accounts and avoid paying federal income taxes.

Peter Amrein, 53, a Swiss citizen, told U.S. District Judge Sidney Stein in Manhattan Tuesday that from 1998 to 2012 he helped Americans evade taxes by concealing funds at various Swiss banks, including Wegelin & Co. He did so while working at an unidentified Swiss bank and later as an asset manager at a Swiss asset management firm.