Latest update: 17/08/2009
- Banking secrecy - Switzerland - tax evasion - UBS - USA
Report says UBS clients used Hong Kong to evade US tax
A California-based UBS client has pleaded guilty to one count of failing to file an annual report to the US Treasury Department amid reports that the Swiss bank helped clients set up companies in Hong Kong to hide money from US tax authorities.
REUTERS - A California client of UBS AG will plead guilty to a federal criminal charge stemming from a U.S. government investigation into tax evasion at the Swiss bank, U.S. prosecutors in Los Angeles said on Friday.