Bloomberg News

LLB’s American Client Assets Were Mostly Undeclared, T-A Reports

July 12, 2012

Liechtensteinische Landesbank AG (LLB)’s American clients had only declared $27 million of the $795 million they held at the Liechtenstein bank, Tages-Anzeiger reported, without saying where it got the information.

Cyrill Sele, a spokesman for LLB, couldn’t immediately be reached for comment when called at his office by Bloomberg News.

Liechtenstein sent letters in May to American clients of LLB, the principality’s oldest bank, informing them that U.S. authorities had requested their account data as they widen a tax-evasion probe.

To contact the reporter on this story: Carolyn Bandel in Zurich at cbandel@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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