The Swiss bank UBS tries to hide its cross-border private bankers who helped US billionaire clients evade taxes
Deolinda Francisco
May 28, 2008

These high-end select private bankers are told not to travel to US and hide in low profile for now. These cross-border private bankers helped US billionaire client evade taxes.

The recent indictment of one of the UBS former senior executives, Bradley Birkenfeld, who US authorities have accused of helping a billionaire client evade taxes.

The US Federal authorities especially the Department of Justice and the Securities and Exchange Commission have expanded their investigation of UBS’s practices.

UBS did sut down its cross-border private banking unit for rich US client at the end of last year. Since then a lot of controversial issues have arisen. UBS is worried that the US authorities will bring in a firm indictment against the organization.

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