Exclusive: Extradited For Singapore Solution Tax Fraud Schnellmann Is Detained As Risk of Flight - his case compared

More here, on why co-defendant Walchli was released back to Switzerland and Schnellmann detained - for now - here below the fold / paywall line

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Sept 29 – Rolf Schnellmann, Daniel Wälchli and Zurich, Switzerland-based Allied Finance Trust AG were indicted in 2020 for conspiracy to defraud the US.

 On September 29, 2023, Schnellmann was brought before U.S. District Court for the Southern District of New York Magistrate Judge Ona T. Wang after being extradited in from Italy.

Inner City Press was there, the only media in the SDNY Mag court. Thread:

Schnellmann was indicted for helping 3 U.S. taxpayer-clients conceal more than $60 million offshore. They've left this for last

SCHNELLMANN arrived by extradition from Italy. There was been some whispering about there being a detainer against him.

He is getting a publicly-paid Federal Defender.  AUSA: We seek detention bases on risk of flight. He was extradited from Italy, where he traveled. If he returned to Switzerland, we could not get him extradited on tax charges  He is Swiss, and lives there.

Federal Defender: We ask release on $50,000 bond. He is only subject to 5 years tax.

Judge: On a tax loss of $20 million? FD: He's only charged with conspiracy. Schnellmann has an unrelated embezzlement case in Switzerland. 

FD: He's a whistleblower. He did not have criminal counsel to negotiate a bail package.  

FD: Yes he has an ICE detainer. But we doubt ICE will pick him up.

AUSA: He only claimed to be a whistleblower after we knew about the crimes, to seek money.

 Schnellmann himself says, No! 

 Judge: He will be detained. He has a prior conviction.  FD: We'd like him to be in Westchester DOC.

The overall case is US v. Bechtiger, 20-cr-497 (Woods / Wang)

More below the fold / paywall line her