July 13th, 2009
The US DOJ's case against swiss banking giant UBS was
delayed yesterday when all three parties - UBS, the US, and Switzerland - asked the Federal District Court in Miami to postpone the trial date until August 3rd so that the US and UBS could continue working out a settlement. The two sides are scheduled to update the judge on their progress on July 29th. From the
Financial Times:
Prospects for a settlement between the sides improved after the US Department of Justice, UBS and the Swiss government asked for a three-week...
July 12th, 2009
The Swiss bank UBS and United States federal prosecutors sought Sunday to delay a hearing scheduled for Monday so the two sides could try to settle their closely watched dispute over the release of names of wealthy American clients of the bank who are suspected of offshore tax evasion.
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July 10th, 2009
The US Federal Bureau of Investigation (FBI) has released its digest of the weeks top news stories - two of which are financially related. From the
release:
4. San Diego: Indictment Charges Civilian Navy Employees and Contractors with Fraud and Bribery
A 25-count indictment was unsealed on 07/07/09, charging six individuals with corruption and fraud charges related to defense contracting at Space and Naval Warfare Systems Command (SPAWAR), a government organization based in San Diego that is responsible for the development of technology to collect, process, display and manage information essential...
July 10th, 2009
MOSCOW (Reuters) - A new top-level U.S.-Russia commission set up by Presidents Barack Obama and Dmitry Medvedev should help investors resolve problems such as corruption and bureaucracy which are impeding trade, a business leader said.
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