Posted on 02/18/2009 8:42:10 PM PST by Steelfish
A Swiss Bank Is Set to Open Its Secret Files
By LYNNLEY BROWNING Published: February 18, 2009
In the hush-hush world of Swiss banking, the unthinkable is happening: secrets are spilling into the open.
UBS, the largest bank in Switzerland, agreed on Wednesday to divulge the names of well-heeled Americans whom the authorities suspect of using offshore accounts at the bank to evade taxes.
The bank admitted conspiring to defraud the Internal Revenue Service and agreed to pay $780 million to settle a sweeping federal investigation into its activities.
It is unclear how many of its clients’ names UBS will divulge. Federal prosecutors have been examining about 19,000 accounts at the bank, but UBS ultimately may disclose the identities of only a few hundred customers.
(Excerpt) Read more at nytimes.com ...
Wealthy Americans Under Scrutiny in UBS Case
http://www.nytimes.com/2008/06/06/business/worldbusiness/06tax.html?_r=1
Obama’s going to lose the rest of his Cabinet.
Thanks for the update. Looks like a ‘witch hunt’ to me. Why would the NYT even bring up Phil Graham? He worked for another arm of the firm altogether.
It is not against the law to use banks in other countries, as long as the W9 was submitted to the bank. Sounds like it is going to be another democrat dog and pony show to intensify the class warfare they love to instigate.
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