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Wegelin Postscript – World’s Oldest Bank To Close After Tax Evasion Plea

by Brian Mahany Wegelin & Co. was the world’s oldest bank. Established in 1741, decades before the Revolutionary War, the bank announced it will be permanently shutting its doors. Why? The bank simply could not survive after pleading guilty to U.S. criminal charges that it assisted American taxpayers evade taxes. Wegelin once boasted to depositors [...]

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