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Swiss Bankers Said Ready to Plead Guilty in U.S. Tax Case

  • Julius Baer advisers to appear; bank to pay $547 million
  • Deferred-prosecution deal follows UBS, Credit Suisse pacts
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Two client advisers from Julius Baer Group Ltd. accused of helping Americans evade taxes are expected to plead guilty in New York on Thursday, when the Swiss bank will resolve its own criminal case by agreeing to pay $547 million, according to two people familiar with the matter.

The bank’s deferred-prosecution agreement with the U.S. Department of Justice is part of a broad probe of tax evasion and undeclared offshore accounts by U.S. citizens helped by Swiss banks. Julius Baer follows larger rivals UBS Group AG and Credit Suisse Group AG in resolving U.S. tax probes.