America forces the oldest Swiss bank to close.

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I'm including a link to the indictment, because I think it's important to note what the (alledged) facts are here.

http://www.justice.gov/tax/2012/Wegelin ... ctment.PDF

"From at least in or about 2002 to in or about 2006, Singenberger
regularly traveled to the Southern District of New York and
other places in the United States to meet with his u.S.
taxpayer-clients with undeclared accounts at WEGELIN, UBS, and
other Swiss banks."

.....

15. In furtherance of the conspiracy to defraud the
United States, WEGELIN, the defendant, helped certain U.S.
taxpayer-clients repatriate undeclared funds to the United
States by issuing checks drawn on, and executing wire transfers
through, WEGELIN'S Stamford Correspondent Account for the
benefit of the U.S. taxpayer-clients. In addition, WEGELIN
helped at least two other Swiss banks repatriate undeclared
funds to their own U.S. taxpayer-clients by issuing checks drawn
on WEGELIN's Stamford Correspondent Account for the benefit of
the clients of the two othe·r Swiss banks.

Those accusations have been included under penalty of purjury before a US Grand Jury.

Now, the bank (and the named defendants) have the right to contest these facts in court, and I personally think they should if they are not true. Ignoring long-arm statutes, the fact of the matter is that at least some of the underlying acts to the indictment occured on US soil.

So a bank in Stamford issued checks, that went to customers, who are then responsable for declaring taxable income?

Also, if they bought anything on ebay, the buyer has to declare the purchase and pay the local sales tax.

Wealth Management, your banker does hand deliver Cashiers Checks, and you sign for it.

Then you deposit the check in your account, and the paperwork trail is complete.

People who buy expensive articles in New York take delivery elsewhere, where the sales taxes are lower. Unless they have no presence in the state where they take delivery, it is all legal.

International wire transfers are Legal, Having a clearing bank is Legal, Issuing Checks is Legal, hand delivering them is Legal, Once they sign for them the Bank is no longer involved. Every step was a Documented Transfer of Funds.

What the customer did could be unlawful, but there are few ways to cash a check without ID, and banks being involved.

Was it income? Taxable? Was it a return of Capital that had already been taxed? That is up to the Customer to declare if taxable.

I could not get the PDF to open, but no customer was mentioned in anything I read. John Smith, charged with Tax Evasion, because...

Bank of England Sight Drafts were hand delivered across and ocean when this was still a British Colony. It is the way things have always been done.

The Bank could not conspire to commit a crime when no crime is reported.

The Bank left a perfect record of the funds transfer.

You have to tell us everyone you do business with is like the State Attorney Generals in the Microsoft Anti Trust Case demanding that Microsoft submit the full Source Code. Microsoft refused.

The Microsoft defense was a statment that government was running bootleg Windows, lots of it, and it was within Microsofts right to shut it all down tonight. The case was dropped.

Swiss Bankers have a lot more power.

The Swiss have the Capital of the World, and they make Chocolate bars Knives, and Watches. All the governments of the world know if Americans can be outted, so can all non Swiss. It is not going to happen.

The American Bond Market could have an accident, so ask yourself, are you feeling lucky?