150 U.S.-Based UBS Clients To Be Charged With Tax Evasion

MIAMI (Reuters) - The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information.

U.S. prosecutors gave their first official confirmation of the initial number of criminal investigations in a filing on Tuesday with a federal court in Fort Lauderdale, Florida.

Read the whole story: Reuters

Comments

[bannorhill]

04:12 PM on 08/19/2009

If they were in Obama's cabinet they would pay the taxes and it would be done.

[mediamarv]

11:14 AM on 08/19/2009

Can't wait for Phil Gramm's name to come up!!!

[hill raiser]

11:10 AM on 08/19/2009

the US economy is still a house of cards based on mounting debt. I'm tired of the administration trying to talk up the economy when no one but the very richest will benefit.

hat tip to http://www.iamned.com ...

[munki]

10:41 AM on 08/19/2009

Prefer offering amnesty and have them to pay voluntarily first...

Why? With their wealth, trust they will be getting other citizenship and prefer them to pay America first!

We may be able to collect more by allowing them to do it... now they know... book is opening...

don't you think?

[Shayrae]

08:00 AM on 08/19/2009

Publish the list already.

[jenns70]

01:29 AM on 08/19/2009

no wonder they want Pres Obama to fail.

[liberalmyers]

12:58 AM on 08/19/2009

Its about time these wealthy tax evaders were brought to justice concerning taxes,the republicans always push tax cuts to the wealthy,and as that was'nt enough they go out of the country and pay zilch.This really is a patriotic crowd,don't you think?

[TylerRose]

12:18 AM on 08/19/2009

Well, Pres. Obama said they have 2/3 of health care reform expense covered and they are working on getting the other 1/3. They just found it.

[PhilipTaylor]

11:20 PM on 08/18/2009

AUTOMATIC THEFT!

METHOD FOR DOWNSIZING 5 BIGGEST BANKS: ENFORCE LAWS

Same CEOs that brought America to its KNEES still ON DUTY!

Prosecute 5 LARGEST WallSt Banks' CEOs:

1. Misrepresentation of HighRiskProducts as LowRisk"AAA" -selling all over World

2. Manufactured Insider Trading - Far more manipulative than Chef Martha!

3. Regarding St0len G0LDMAN Software: "GS has raised possibility there is danger somebody who knew this program could use it to manipulate markets in unfair ways." Isn't this the MOST AMAZING ADM1SS1ON in a C0URTofLAW?

4. Automated Scheme intercepts real time order messages+insert GS Trades ahead of others trades to capture the BOUNCE from a BigTRADE. Automatic+ILLEGAL!
______________

Laws on books - LACKING IS AN HONEST ADMINISTRATION TO PROSECUTE!

“Misrepresentation” is contract law concept, meaning false statement of fact made by one party to another party, which has effect of inducing that party into a contract. For example, false statements/promises made by seller of goods regarding the quality/nature of the product that the seller has may constitute misrepresentation.

“Insider Trading” is trading of securities by individuals with access to non-public information about product/company. Taking advantage of non-public information by an insider during performance of insider's duties, or in breach of fiduciary duty or relationship of trust/confidence.

“PREMEDITATED MANUFACTURED INSIDER TRADING”
a. Make SureFailMortgageProduct knowing it will fail
b. Buy Massive A1G CreditDefaultSwaps Betting “SURE FAIL Products” will FAIL!
Make it to fail&bet it will fail: "Manufactu red-Insider-Trading" 100% Sure BETS!

[jalowe1957]

11:07 PM on 08/18/2009

When the list is made public, you know the tax cheats will be hiding in fear.

[WIpatriot]

10:13 PM on 08/18/2009

5,000 names...only 40,000 to go.

[schatsie]

09:20 PM on 08/18/2009

The UBS fine was less than 5%.....That is a slap on the wrist.

[DFL]

08:40 PM on 08/18/2009

Good! -thats the change I voted for!

[hellboundtrain]

04:15 AM on 08/19/2009

Tax cheats may finally get caught.
War criminals get libraries built in their name (or some such ridiculous thing)
in the U.S. they can rely on not being investigated or prosecuted.

Nothing makes any sense about this. Hey, Washington, I demand justice!

A Citizen Patriot.

[RadCenter]

08:14 PM on 08/18/2009

Lots of stained underwear in Scarsdale tonight.

[Oxonian2001]

11:37 PM on 08/18/2009

And Greenwich. And Ridgefield. And Darien. And Stamford. And Park Avenue. And Lake Forest. And Kenilworth. And...

[sonofsamphm1c]

12:03 AM on 08/19/2009

Actually, all indications are this is concentrated in new money states - Florida, Texas, Arizona, Nevada, and California: coincidentally, also the epicenters of the housing earthquakes.

[DestinationsUnknown]

08:04 PM on 08/18/2009

5,000 NAMES

A U.S. legal source told Reuters on Monday that UBS was expected to give U.S. authorities the names of about 5,000 more Americans suspected of using the Swiss bank to evade taxes.

Is Phil Graham on the list?