Stefan Buck, ex-head of private banking of Bank Frey & Co. in Switzerland -which closed down in 2013 and executive board member, was indicted in April 2013 for conspiring to help wealthy clients hide millions of dollars from the Internal Revenue Service (IRS). In November 2014 he asked for a bail hearing without having to appear in court and requested a waiver that would allow him to return to Switzerland while the case was ongoing.
US District Judge Victor Marrero in New York denied the request because ‘under US law, a fugitive isn’t entitled to bail. The judge said that Buck has known about the charges for 18 months and yet chooses to remain in Switzerland’ reports Bloomberg. Reuters adds that Judge Marrero wrote that granting the request “would be tantamount to signaling to future defendants that their best strategy would be to flee prosecution and deliver bail demands from a non-extradition country.”