Swiss Bank Pictet Probed by US Senate Finance Committee Chair

The US Senate Finance Committee is seeking information on whether Swiss bank Pictet is abetting tax evasion on an ongoing basis by a US citizen under criminal investigation.

The committee has reviewed evidence of suspicious internal transfers between Pictet accounts, committee Chair Ron Wyden said in a statement. The panel also is looking into whether the conduct is covered by a $123 million fine the bank paid as part of an agreement with the Justice Department last year.