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
http://www.nytimes.com/2009/02/19/business/worldbusiness/19ubs.html?hp
Subscribe to:
Post Comments (Atom)
Warnings from the chief executive of the nation’s largest bank have been consistently at odds with heady financial markets.
By Rob Copeland. April 12, 2024 Updated 8:18 a.m. ET "Jamie Dimon, the chief executive of JPMorgan Chase, on Friday warned of an “...
-
" UBS has long been keen to grow its footprint in China that already includes a mutual fund joint venture and a private fund business...
-
" Here in New York, the elected student commencement speaker at the City University of New York School of Law is facing death threats ...
-
" Process of de-dollarization has begun’ “It’s clear that it (de-dollarization) will not happen at once, but the process has begun,” M...
No comments:
Post a Comment