Four Swiss bankers were recently charged with helping American taxpayers skip paying U.S. taxes.
The bankers allegedly set up thousands of secret accounts with as much as $3 billion in total assets. IRS officials said the conspiracy dates back to 1953 and involved two generations of U.S. tax-evaders, including people who inherited their secret accounts from parents.
The bankers even traveled to the United States to recruit. According to the federal indictment out of Virginia, they also provided unlicensed and unregistered banking services and investment advice to their customers.
Those customers also traveled overseas — to Switzerland and the Bahamas — to carry out their secret banking.