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UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
Swiss bank UBS is set to shell out more than $1.4 billion to settle accusations of “historic” fraud relating to its role in the 2008 financial crisis. ... “Under the terms of the settlement ...
When Swiss financial giant UBS admitted it conspired to help U.S. citizens avoid paying taxes by letting them stash their fortunes in secret bank accounts, prosecutors hailed it as a victory for ...
UBS agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the ...
Bradley Charles Birkenfeld (born February 26, 1965) is an American private banker, Author of Lucifer's Banker, convicted felon, and whistleblower.During the mid- to late-2000s, he made a series of disclosures about UBS Group AG clients, in violation of Swiss banking secrecy laws, to the U.S. government alleging possible tax evasion.
A Swiss court will decide within weeks whether UBS must hand over historical client data to French tax authorities, a ruling that could open the door to fresh financial claims against Switzerland ...
On 19 February 2009, the US government filed suit against UBS to reveal the names of all 52,000 U.S. customers, alleging that the bank and these customers conspired to defraud the US tax authority IRS of legitimately owed tax revenue. [10] However revealing customer names was contrary to Swiss law and put UBS in a difficult position.
UBS agreed to pay $1.44 billion in penalties to settle allegations of fraud in the sale of residential mortgage-backed securities, the Department of Justice announced on Monday, resolving a case ...