The tax agency (IRS) seeks records of Wegelin’s correspondent account at UBS, which will allow US authorities to determine who held assets at Wegelin and other Swiss institutions using the UBS account,
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It was on 3 January 2013 that Wegelin had pleaded guilty in Manhattan federal court to the charges of helping wealthy Americans evade taxes through secret accounts and then announced it would close down as a result.
The US district Judge William Pauley in Manhattan granted the IRS’s request to issue a John Doe summons, which seeks information about possible tax fraud committed by individuals whose identities are not known, to UBS for the names of taxpayers who may have hidden income at Wegelin and other Swiss banks.
A UBS spokeswoman has declined to comment on the issue.
In 2009, UBS had entered into a deferred-prosecution agreement, turning over 4,450 client names and paying a US$780 million fine after admitting it provided tax-evasion services to rich Americans.
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By GlobalData
