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UBS helped wealthy avoid taxes, will pay huge fine, rat them out

Bob Morris, on Feb 18, 2009, 3:14 pm

UBS helped wealthy customers avoid US taxes. They have admitted guilt but there will be no prosecutions (why?) however they will pay $780 million in fines.

However, as part of the agreement, UBS will also drop the dime on their wealthy clients and rat them out to the IRS. That should be really good for their customer relations.

Tell me, are any of these banks even remotely honest or ethical?

The bank officials who participated in this are criminals. Period. They should go to prison.

Tags: , | Category: News | One comment - (Comments are closed)

  • http://www.radicalglasgow.me.uk John Couzin

    In answer to your question; Tell me, are any of these banks even remotely honest or ethical? The simple answer is NO. Surely by now, with all the fraud cases and the dodgey tax evasions and the rampant greed it should be sinking that the system is totally corrupt and run by greedy and corrupt groups and individuals. What you’re seeing is just the tip of the iceberg, there will be a lot more individuals and groups trying to keep a low profile and just whistling quietly in the background.