A PHP Error was encountered

Severity: Notice

Message: Undefined variable: IN

Filename: libraries/Functions.php(688) : eval()'d code

Line Number: 4

A PHP Error was encountered

Severity: Notice

Message: Trying to get property of non-object

Filename: libraries/Functions.php(688) : eval()'d code

Line Number: 4

Lawyer who pleaded guilty to helping clients hide assets posts bond with $500K work of art
Back

Lawyer who pleaded guilty to helping clients hide assets posts bond with $500K work of art

Home
White-Collar Crime

Lawyer who pleaded guilty to helping clients hide assets posts bond with $500K work of art

Aug 26, 2013, 07:40 pm CDT

A Zurich-based attorney who recently took a plea after being charged with helping American clients hide assets in Swiss bank accounts has been allowed to return home prior to his February sentencing after posting bail with a work of art.

The $500,000 piece, La Gardeuse de Chevres, is being held by a New York law firm representing Edgar Paltzer, pending his return to federal court in New York, according to the MoneyBeat page of the Wall Street Journal (sub. req.).

Using property to secure bond isn’t particularly unusual, his defense lawyer, Thomas Ostrander, told the newspaper. “In this case the agreed security was this work of art.”

Paltzer holds dual Swiss and U.S. citizenship and is licensed to practice in New York.

See also:

ABAJournal.com: “Swiss lawyer pleads guilty in tax probe; indictment details how he helped US clients hide money”

Click here to view or post comments about this story