UBS chairman may be tied to alleged IRS fraud

[swag]

Source: Investment News

UBS Chairman Peter Kurer sat on a high-level 2002 corporate committee accused by U.S. prosecutors last month of “knowingly” withholding information relating to its obligations to report on American taxpayers’ secret accounts, according to a recently released federal document.
The U.S. Department of Justice alleged that the UBS Group Executive Board that ran the Swiss bank’s daily business operations contributed to a conspiracy to defraud the United States of tax revenue.

The allegation is contained in a single paragraph of an 11-page exhibit attached to the bank’s settlement of a U.S. criminal investigation filed with the court last month.

“Executives on UBS’s executive board knowingly” failed to tell the Internal Revenue Service in Sept. 2002 of an internal audit showing deficiencies in UBS’s implementation of its tax oversight obligations, prosecutors alleged.


Read more: http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090302/REG/903029969/1094/INDaily01

[Javaman]

1. I wonder if phil gramm is involved with any of this. Oh I hope so.

:evilgrin:

[acmavm]

2. Not surprised. They're just scratching the surface.

And let's hope Phil Graham has a prison cell in his future.

[sarcasmo]

3. Kick, and another Kick, Corruption all over the place and no one going to Jail.

Maddoff, the other Billionaire who I can't remember this guy, and many predatory lenders who should also be behind bars.