Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Togo : will president Faure Gnassingbe win a third 5-year term ?

Read more

MEDIAWATCH

Controversy reigns 100 years after the Armenian genocide

Read more

THE WORLD THIS WEEK

Migrant Deaths: Politicians Divided after Emergency EU Summit

Read more

THE WORLD THIS WEEK

The G-Word: Turkey and the Armenian Genocide

Read more

FRANCE IN FOCUS

What will the new French healthcare bill change?

Read more

#TECH 24

Space Special: Happy Birthday, Hubble!

Read more

FOCUS

Video: Meeting Marseille's Armenian community

Read more

REPORTERS

Saving French soldiers' WWI trench carvings

Read more

ENCORE!

Armenia, 100 years on

Read more

Business

USA investigating more than 150 UBS customers

Text by NEWS WIRES

Latest update : 2009-08-19

The US government announced on Tuesday a criminal investigation of more than 150 American customers suspected of hiding assets in the Swiss bank UBS. An out-of-court settlement between the USA and UBS is to be signed on Wednesday.

AFP - The United States is "criminally investigating" more than 150 US customers of Swiss bank UBS on suspicion they concealed income and assets to avoid US taxes, court documents said Tuesday.
   
"The United States is criminally investigating more than 150 Americans across the country who are believed to have concealed income and assets at UBS, in violation of United States law," the Justice Department said in filings before a federal court in Fort Lauderdale, Florida.
   
The investigation was made public in filings related to the sentencing of Bradley Birkenfeld, a UBS banker who in 2008 provided information to a US investigation into tax evasion by the Swiss bank.
   
Initially, the United States demanded that UBS turn over the identities of 52,000 of its American customers suspected of tax evasion.
   
The US government took UBS to court when it refused to hand over the names, but the litigation is expected to end Wednesday when the two sides sign a final agreement in the United States, a source close to the case told AFP.
   
 

Date created : 2009-08-18

COMMENT(S)