Switzerland’s oldest bank, Wegelin & Co., has agreed to pay $74 million to the United States to settle charges that it conspired to evade taxes with its U.S. clients, in the first-ever guilty plea to tax law violations by a foreign bank.

The Justice Department and the Internal Revenue Service announced the guilty plea and settlement Thursday, the largest in a tax case since another Swiss bank, UBS, agreed in 2009 to pay $780 million to settle U.S. criminal charges under a deferred prosecution agreement and turn over the names of 4,500 clients.

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