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U.S. Data from Swiss Banks May Mean More Prosecutions (subscription)

More Swiss banks are coming clean with U.S. authorities and experts say that could mean trouble for U.S. tax cheats and their investment managers.


But legal experts say the cases against individuals utilizing the banks may still be yet to come, as authorities piece together the trove of incriminating information the Swiss firms handed over. "There is so much information now in possession of DoJ. They are taking their time and putting together cases on individuals," said Jared Dwyer, a former federal tax prosecutor, who predicts a spike in cases against individuals over the next year and a half.

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