Swiss Bank Wegelin Must Pay $58 Million in U.S. Tax Prosecution

Swiss Bank Wegelin Must Pay $58 Million in U.S. Tax Prosecution

Wegelin & Co. via Bloomberg

Wegelin & Co., Switzerland's oldest bank, stands in St. Gallen, Switzerland. Wegelin last year became the first Swiss lender indicted in a crackdown on offshore firms suspected of helping Americans evade taxes.