Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Reeses
Offshore doesn't stop the feds anymore.

Not sure that's true. As long as one can use a foreign computer, he can use that machine as if he were sitting there.

ML/NJ

13 posted on 04/21/2010 3:30:26 PM PDT by ml/nj
[ Post Reply | Private Reply | To 12 | View Replies ]


To: ml/nj
Long time hold-out Switzerland folds

The bank admitted that between 2000 and 2007 as many as 50 of its bankers traveled to this country from Switzerland every few months. None of them, including Birkenfeld, a U.S. citizen, was licensed to transact business in this country. They came with encrypted computers and met with each client to service accounts.

The bank even trained its bankers in avoiding detection by U.S. regulators.

UBS agreed to pay a $780 million fine, closed down its cross-border U.S. business and subsequently promised in a deal with Attorney General Eric Holder to turn over the names of 4,500 of some 19,000 American clients.

We need a virtual bank that can't be shut down and that can't turn in their customers because because they don't know who they are.

14 posted on 04/21/2010 5:37:36 PM PDT by Reeses (All is vanity)
[ Post Reply | Private Reply | To 13 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson