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German IT Professional Indicted for Selling Swiss Bank Account Data to Tax Authorities in Germany

German-IT-specialist-sentenced-by-Swiss-court-for-stealing-bank-info-and-selling-to-german-tax-authoritiesA Swiss court in Bellinzona recently sentenced a German IT professional to 3 years after he confessed to collecting confidential bank account information belonging to wealthy clients of Swiss bank Julius Bär and selling the information to German tax authorities. Since 2005, a German IT specialist by the name of John Leitzung, had been filtering account details on nearly 3K clients of Julius Bär in exchange for a total of € 1.1M (equal to $1.5M).

An indictment was served in 2011 after Julius Bär agreed to pay € 50M to German tax authorities to close a long time tax investigation. Since then, Leitzung has been held in a correctional facility awaiting final judgment of the Swiss court. In passing down the 3 year sentence, judges ruled that Leitzung would be allowed to serve half of his sentence on probation. Since he had been awaiting judgment in custody for nearly 2 years, he is scheduled to be released from custody in less than 6 months.

There is currently no public report indicating that Leitzung will be required to pay restitution or pay back the € 1.1M that was illegally acquired. Many view this 3 year sentence with no apparent restitution as an extremely light sentence for having violated international banking privacy laws.

Read the original report on DW.