Multiple choice

Which of the following banks of Switzerland became the first foreign bank to plead guilty in the United States for the case of tax evasion?

  1. Credit Swiss

  2. Swiss National Bank

  3. Hyposwiss Private Bank

  4. Wegelin & Co

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Wegelin & Co became the first foreign bank to plead guilty in a United States court for tax evasion cases. This centuries-old Swiss bank closed down in 2013 after admitting to helping wealthy Americans evade taxes through secret accounts. Credit Suisse is a major Swiss bank but not the first to plead guilty, Swiss National Bank is Switzerland's central bank, and Hypo Private Bank is a different Swiss institution.