A Swiss lawyer accused of helping U.S. clients conceal millions of dollars in offshore accounts pleaded guilty to conspiracy to commit tax fraud in federal court in New York on Friday. Edgar Paltzer, 57, a dual U.S.-Swiss citizen, admitted to opening bank accounts in Switzerland in the name of entities he formed for U.S. citizens, knowing they intended to evade taxes. "I was aware that this conduct was wrong," he said, pleading guilty to newly filed criminal charges as part of a plea agreement. As part of his plea, Paltzer agreed to forfeit any fees he earned and cooperate with the U.S. government. "His cooperation is complete and without any limitation," Thomas Ostrander, Paltzer's lawyer, said after the hearing. Paltzer, a former partner of Swiss law firm Niederer Kraft & Frey who is licensed to practise in New York, was first charged in April on one count of conspiracy alongside Stefan Buck, then head of private banking at Bank Frey & Co AG. That indictment accused them
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