WASHINGTON — Swiss private bank Wegelin & Co. was indicted Thursday on charges that it facilitated tax fraud by US taxpayers, the Justice Department said.

Wegelin, Switzerland’s oldest bank, conspired with US taxpayers and others to hide more than $1.2 billion in secret bank accounts, the department alleged.

The Justice Department also said the US government has seized more than $16 million from Wegelin’s correspondent bank account in the US.

The indictment was unsealed in a Manhattan federal court.

Read more at The Wall Street Journal