US indictment implicates Hong Kong in tax evasion
A federal court has accused Swiss bank Wegelin of using sham operations to hide funds, some incorporated in Hong Kong. The city is expected to come under increased scrutiny.
US citizens and green-card holders living in Hong Kong and around Asia are expected to come under closer scrutiny after a US federal court indicted private Swiss bank Wegelin in New York as part of its crackdown on international tax evasion.
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