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ALEXANDRIA, Va. — A former Swiss banker pleaded guilty Wednesday to his role in a fraud scheme that prosecutors say helped U.S. taxpayers hide as much as $3 billion in assets from the IRS.
Andreas Bachmann, 56, a Swiss citizen, is one of eight former employees of Zurich-based Credit Suisse to be charged back in 2011. He is the first to be arrested and plead guilty. All eight were living in Switzerland, which has been unwilling to extradite, but Bachmann agreed to come to the U.S. and strike a plea deal. The plea hearing was scheduled several weeks ago, and he was arrested Tuesday in Alexandria.
Bachmann faces a maximum of five years in prison under the plea deal. His attorney did not return a telephone call and email seeking comment Wednesday.