“The last president of a 270-year-old Swiss bank that collapsed after helping rich Americans dodge taxes blames himself for the firm’s demise but hints the Holocaust contributed to Switzerland’s banking secrecy.  Konrad Hummler, in an interview published on Thursday, took full responsibility for the closure of Wegelin & Co., founded in 1741, after it paid US penalties of $57.8 million for helping clients avoid some $20 million in taxes. While stressing the bank had always respected Swiss law, he admitted exploiting ‘differences between the (legal systems) in Switzerland and the United States.'”

http://www.thelocal.ch/20130718/wegelin-chief-takes-blame-for-banks-collapse

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