November 21, 2017
A former Swiss banker was acquitted of helping U.S. clients dodge taxes, dealing prosecutors a dramatic loss in their efforts to hold individuals responsible after the government successfully targeted financial institutions.
The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland. While more than three dozen bankers, financial advisers and lawyers have been indicted by American prosecutors, Swiss authorities have no extradition treaty with the U.S., and Buck is one of just a handful that have chosen to cross the Atlantic and face charges.
