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Switzerland's Vadian Bank Settles With US Over Tax Offences

Tom Burroughes

12 May 2015

Switzerland’s ,” the statement said.

Vadian’s services included: “hold mail” services; numbered accounts, where the client was known to most bank employees only by a number or code name; opening and maintaining accounts for US taxpayers through non-US entities such as corporations, trusts or foundations; and accepting instructions from US-based accountholders to prevent investments from being made in US-based securities that would require disclosure to US tax authorities, it said.