USA investigating more than 150 UBS customers
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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.