“American clients of private bank Julius Bär were told recently that they are the focus of a US tax evasion probe, a Zurich-based daily reported on Tuesday. US tax authorities had requested administrative assistance from their Swiss counterparts to investigate a number of US citizens suspected of having undeclared funds at the Zurich-based bank.  The United States has launched investigations into the dealings of around a dozen Swiss banks, including Julius Bär, prompting Switzerland to try to reach an overarching settlement with Washington to provide legal closure for its financial sector.”

http://www.thelocal.ch/20130528/julius-baer-clients-targeted-in-us-tax-evasion-probe

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