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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 ...
The 2011 UBS rogue trader scandal caused a loss of over US$2 billion at Swiss bank UBS, as a result of unauthorized trading performed by Kweku Adoboli, a director of the bank's Global Synthetic Equities Trading team in London in early September 2011. [1] [2] On 24 September 2011, Oswald Grübel, the CEO of UBS, resigned "to assume ...
Union Bank of Switzerland (UBS) [a] was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS .
Less than two weeks after the official amnesty program ended for taxpayers who had previously failed to disclose income from offshore accounts, the first high profile criminal case involving a ...
Two U.S. tax cheats who were aided by UBS (UBS) pleaded guilty last week, one in California and one in Florida. The investigations into their cases opened some new avenues for the IRS to pursue ...
Swiss banking giant UBS finally reached a deal today with the Internal Revenue Service to turn over the names of more than 4,000 U.S. citizens: allegedly, the worst offenders in tax-evasion ...
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.
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 ...