Wall Street Journal: Wealthy taxpayers have inundated the Internal Revenue Service in recent weeks with requests to come clean for past tax evasion, amid a government crackdown on undeclared income from overseas accounts.
Bloomberg is reporting that UBS ignored a suggestion to sell its US wealth management division last year. According to Bloomberg, the former head of the wealth management division wrote to the UBS management suggesting that they sell that division last year, and he never heard back. I'm sure they're regretting that decision now.
Swiss authorities are investigating allegations that a Swiss official accepted a bribe from an American UBS client. From Reuters:
Swiss prosecutors are investigating allegations that an unamed Swiss official took a bribe from a U.S. client of UBS, they said on Wednesday.
Federal prosecutors said in a statement the tax authority had filed charges against unknown persons which it was now investigating without giving further details.
Word of the investigation came just one day after a former UBS client plead guilty in US court to filing false tax returns and evading...
ZURICH (Dow Jones)--Switzerland's justice department said Wednesday that allegations a high-ranking Swiss official was bribed by a Swiss bank client aren't specific enough to pursue a case.
