Blog posts with "tax evasion"

Displaying 1-3 of 3 result(s).

Swiss Banker on Trial in Florida for $20 Billion Tax Evasion

Swiss banker Raoul Weil is currently on trial in Fort Lauderdale, Florida for allegedly conspiring to hide the assets of thousands of wealthy United States clients worth $20 billion from the IRS while working as the head of UBS’s global wealth management business. Business Insider provided the following background and summary of this trial: In 2008 Bradley Birkenfeld, an American working for UBS, blew the whistle on the giant Swiss bank's offshore operations, which had helped thousands of ...

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Credit Suisse Pleads Guilty to Decades-Long Tax Evasion Conspiracy

“European banking giant Credit Suisse has pleaded guilty to helping American clients avoid paying taxes by concealing assets in illegal, undeclared bank accounts — becoming the largest bank to plead guilty to a criminal charge in 20 years,” as reported by Democracy Now, which described the plea deal as follows: Credit Suisse will pay about $2.6 billion in penalties and hire an independent monitor. But the bank will not be required to turn over the names of the Americans who used the ba...

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UBS Tax Fraud Kingpin and the UBS Politically Exposed People Program

On January 7, 2014 in Fort Lauderdale, Florida, UBS Tax Fraud Kingpin Raoul Weil pled not guilty to the federal grand jury indictment alleging that, as the head of UBS’s global wealth management business, he conspired to hide the assets of thousands of wealthy United States clients worth $20 billion from the IRS. UBS bankers’ sales pitch to the wealthy U.S. clients included assurances that UBS had better lobbying possibilities in the United States than any other foreign bank, that UBS wou...

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