Editors' Note: This article has been updated to reflect a Correction.
A Swiss lawyer pleaded guilty Friday to conspiring with U.S. taxpayer-clients to hide millions of dollars offshore from the Internal Revenue Service. Edgar Paltzer, a former partner at a Swiss law firm, acted as a financial intermediary to help U.S. citizens stash undeclared assets in Swiss banks and, when authorities began closing in, shifted some of the assets to other banks. He also helped repatriate funds from undeclared Swiss banks in ways designed to keep U.S. authorities ignorant of the accounts. For example, he helped a U.S. taxpayer move assets in the form of jewelry.
