Published On: Wed, Aug 19th, 2015

Sons of Indicted Swiss Financial Adviser Keep Business in the Family

A few weeks after his indictment, Josef Beck’s directors formed another company to manage money for American citizens, records show

Swiss financial adviser Josef Beck. Source Beck Verwaltungen AG

 

For more than two decades, prosecutors allege, Swiss financial adviser Josef Beck practiced the dark art of handling dirty money.
He conspired with Switzerland’s biggest bank, UBS Group AG, to help dozens of Americans evade taxes, once using a young child to deliver a bag of cash to a client, according to a 2012 federal indictment (PDF). He has never come to the U.S. to face those charges, and the Department of Justice considers him a fugitive.
Yet in a low-rise Zurich office building, the Beck family business of advising wealthy Americans lives on.

Read the full story at Bloomberg by Jesse Drucker

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