UBS to pay 780 million to US Government over tax charges

Switzerland’s largest bank, UBS, has admitted helping U.S. taxpayers hide money from the IRS. They have agreed to pay $780 million in fines and restitution, and to turn over account information.
“UBS admitted to conspiring to defraud the United States by impeding the IRS,” the Justice Department announced late Wednesday.
The statement says that UBS, “in an [...]

Written on February 19, 2009 | Posted in US News, World News | No comment