UBS Considers Divulging Client Names In Tax Evasion CaseUBS Considers Divulging Client Names In Tax Evasion Case
This weekend won’t likely be a relaxing one for UBS executives, private bankers and thousands of wealthy American clients. The New York Times reports today that the firm is under intense pressure from authorities as one of its top private bankers, Bradley Birkenfield, is expected to enter a guilty plea on Monday in a Florida court for conspiracy to defraud the U.S. government, or to put it plainly, helping U.S. clients evade taxes. The Times story indicates UBS is considering whether to divulge the names of 20,000 of its wealthy US clients.
June 6, 2008
John Churchill
This weekend won’t likely be a relaxing one for UBS executives, private bankers and thousands of wealthy American clients. The New York Times reports today that the firm is under intense pressure from authorities as one of its top private bankers, Bradley Birkenfield, is expected to enter a guilty plea on Monday in a Florida court for conspiracy to defraud the U.S. government, or to put it plainly, helping U.S. clients evade taxes. The Times story indicates UBS is considering whether to divulge the names of 20,000 of its wealthy US clients.
Here is our earlier story on the tax fraud case.
