UBS chairman says clients “not harmless victims”: report

August 24th, 2009


ZURICH – Clients of UBS facing disclosure of their accounts to U.S. tax authorities were not harmless victims and legal cases against former UBS bankers did not affect the bank, its chairman told Swiss Sunday newspapers.

“The clients are not just harmless victims. They knew what they wanted to evade,” Kaspar Villiger, chairman of the world’s second-largest wealth manager, said in an interview with SonntagsBlick.

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