Swiss Executive Sentenced for Tax Evasion Scheme

Daniel Walchli, a 56-year-old executive at a Swiss holding company, has been sentenced to no prison time for his role in a scheme to help US taxpayers hide more than $60 million in assets in a fraudulent arrangement known as the “Singapore Solution.” He pleaded guilty to a single count of conspiracy to defraud the US for his involvement in setting up a structure for American clients of Privatbank IHAG to evade scrutiny by tax authorities. US District Judge Gregory Woods sentenced Walchli to the brief time he spent in custody after surrendering in 2022. The case highlights the complexities and consequences of tax evasion schemes, shedding light on the legal ramifications for those involved in such fraudulent activities.