Thursday, November 13, 2008

NewsDaily: Indictments possible in UBS inquiry: report

National Public Radio is reporting this morning that 20,000 wealthy individuals were advised by an executive on methods of evading paying taxes. [excerpt] ... The U.S. Department of Justice is investigating UBS over offshore services provided to U.S. clients from 2000 to 2007 to find out whether UBS helped wealthy Americans dodge taxes. The Swiss bank was singled out by U.S. President-elect Barack Obama as one of the banks who helped "tax cheats." It decided earlier this year to stop offering offshore Swiss bank accounts to U.S. citizens. ... The story is developing ... here's an earlier report.

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