“On Aug. 16, Edgar Paltzer, 57 years old, a Swiss lawyer formerly with the Zurich firm of Niederer, Kraft & Frey, pleaded guilty in federal court in New York to a single count of conspiracy. Experts say Mr. Paltzer is the most prominent Swiss adviser to confess and the first to do so publicly. More than 30 advisers have been indicted in connection with allegedly enabling U.S. taxpayers to hide money abroad.  The case puts further pressure on U.S. taxpayers holding secret offshore accounts, because advisers might opt to protect themselves by turning in their clients.  The case also expands government scrutiny to assets stored in bank vaults.”

http://online.wsj.com/article/SB10001424127887323980604579029124124818620.html

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