Swiss Executive Gets No Prison in ‘Singapore Solution’ Tax Scam

An executive at a Swiss holding company was sentenced to no prison time for participating in a scheme to help US taxpayers hide more than $60 million in assets in a fraudulent arrangement known as the “Singapore Solution.”

Daniel Walchli, 56, pleaded guilty last year to a single count of conspiracy to defraud the US for his role in setting up a structure for American clients of Privatbank IHAG to evade scrutiny by tax authorities. US District Judge Gregory Woods sentenced Walchli Tuesday to the brief time he spent in custody after surrendering in 2022.

Walchli was a member of ...