Skip to Main Content
 

Chris Rizek and Scott Michel Comment on Wegelin Guilty Plea

January 6, 2013

In an interview with The National, Christopher S. Rizek and Scott D. Michel comment on the guilty plea of Wegelin, one of Switzerland's oldest private banks.

Excerpt taken from the article.

The United States government has raised the stakes in its crackdown on Swiss banks through a hard-charging prosecution that has forced the closing of a 272-year-old Swiss firm for offering tax-evasion services to wealthy Americans.

Tax lawyers and former prosecutors said that the closing of Wegelin & Co, Switzerland's oldest private bank, served as a stark warning for some Swiss banks under investigation, especially smaller firms such as Wegelin.

"The Justice Department wanted a scalp to send a message to all the other banks, in particular the small cantonal and private banks," said Christopher Rizek, a tax lawyer at Caplin & Drysdale in Washington, and a senior former Treasury department tax official.

"Clearly there is another process at work here and it's one in which there is now not going to be a compelled disclosure in connection with a plea."  said Scott Michel, a tax lawyer at Caplin & Drysdale in Washington with many wealthy clients of Swiss banks.

To view the full article, please go to The National's website.

________________________________________________

About Caplin & Drysdale
Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of taxtax controversy, and litigation legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at www.caplindrysdale.com.
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
202.862.5000
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022
212.379.6000

___________________________

Disclaimer
This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
© 2018 Caplin & Drysdale, Chartered
All Rights Reserved.