Federal prosecutors are building criminal cases against 150 wealthy American clients of the Swiss banking giant UBS as part of a continuing investigation into tax evasion, a person briefed on the matter said Thursday.
Details of a historic settlement between the U.S. and Swiss governments over secret accounts at UBS remain, well, secret. But the case marks the biggest assault yet against Swiss banking.
Swiss-American Chamber of Commerce CEO Martin Naville, Global Financial Integrity Program Legislative Director Heather Lowe and Campaign for Liberty Senior Vice President Jesse Benton on the U.S. striking a deal to get the names of some holders of secret Swiss bank accounts in an effort to get more tax revenue.
GFI's director of Government Affairs and legal counsel, Heather Lowe, appeared on Fox Business Channel this morning to discuss the implications of the UBS settlement. Check it out below:
