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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 ...
UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street's role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial ...
Credit Suisse, which UBS bought in June, reached a similar $5.28 billion settlement in 2017. In a press release, UBS said it previously set aside reserves to cover the $1.43 billion payout.
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 ...
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.
The bank is the seventh to settle similar claims by New York, resulting in roughly $3.93 billion of settlements, the attorney general said.
From 2007 to 2008, Trevor Murray worked for UBS, a multinational investment bank and financial services company. In 2011, he was recruited back to UBS. When he returned, Murray was responsible for researching UBS's commercial mortgage-backed securities (CMBS), and reporting his findings to the firm's current and prospective customers.
UBS AG (UBSG.S) has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling subprime mortgage securities that contributed to the ...