Swiss Bank Tells Some Employees: Avoid Trips To US

Financial Times:

UBS has told members of its former private banking team responsible for rich US clients not to travel to America.

The Swiss bank has also made lawyers available to the more than 50 bankers involved, many of whom have left UBS since it decided last November to wind down its cross-border private banking business for US customers.

The move follows the recent indictment of one of the unit's former senior executives, Bradley Birkenfeld, who US authorities have accused of helping a billionaire client evade taxes. Mr Birkenfeld has pleaded not guilty and his lawyers have made no public statement on the matter.

Lawyers for Mr Birkenfeld and the US government are due to appear before a judge next Monday "to resolve pre-trial motions and discovery problems", according to court documents.

Read the whole story: Financial Times

Comments

[VivaZapata]

US citizens should avoid investing in UBS, which stands for Utter Bull Shit; they lose money for the small investor.

[vippy]

And here we go again, you blame the Swiss instead of our own people who sold you down the
river. If you can't see that then we will never get better because we fail to see the root of the problem
and that is our own congress/senate who pass these laws. Have you seen any politician that is
not accessible to lobbyists????

[BethStuart]

I seem to recall that Phil Gramm, McCain's economic adviser, was until very recently a lobbyist for UBS and remains vice-chairman of one of its subsidiaries.

[LivingStardust]

UBS. Can your lawyer's spell "extradition"? Can they spell "criminal"? Can they spell "you will never be safe to travel ANYWHERE, EVER without wondering when the FBI is going to grab you?"

They'll need to. Rot in Hell, venal fascist enablers. And I do mean ROT.

[dadw5boys]

Theives!!!!!