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Friday 4 January 2013

Swiss bank Wegelin to close after US tax evasion fine

“Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin, which was established in 1741, has also agreed to pay $57.8m in fines to US authorities. It said that once this was completed, it "will cease to operate as a bank".” READ MORE.