Billionaire Tax Felon Says UBS Lied in Pledge to Report to IRS
With evidence from the Olenicoff case and cooperation from Birkenfeld, U.S. prosecutors have been able to penetrate the veil of financial invisibility that Switzerland guards as a national treasure.
To avoid immediate prosecution, UBS, Switzerland’s second- largest bank by stock market value, behind Credit Suisse Group AG, agreed on Feb. 18 to pay the U.S. $780 million.
It renewed a pledge to stop unlicensed recruiting of customers in ...
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