Banking giant UBS admits to helping defraud IRS, will pay $780M...

Full story: Chicago Tribune

Banking giant UBS has agreed to pay $780 million and turn over once-secret Swiss banking records to settle allegations it conspired to defraud the U.S. government of taxes owed by thousands of American clients.
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21 - 28 of 28 Comments Last updated Feb 20, 2009
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cscs7

New York, NY

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#21
Feb 19, 2009
 
And let's not be all small-minded about this - there are plenty of wealthy Republicans, Democrats and Independents who have tried to evade paying taxes by hiding their assets in overseas acoounts.

Banks catering to the wealthy, accounting firms and white shoe corporate law firms have made a mint by helping their clients hide their assets in fancy offshore vehicles.
hypocrites all of em

Chicago, IL

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#22
Feb 19, 2009
 
The rich get away with grand larcency all the time!

WAll street is a giant PONZI scheme with the profits going overseas!
Mike

Chicago, IL

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#23
Feb 19, 2009
 
Its about time! Lets get this money back and all the back taxes, penalties, and interest. This is an insult to all Americans and especially those hard working ones that happen to fall barely into the upper most tax brackets and pay taxes on all of their income (we're too busy slaving away to hide our money even if we wanted to). These people make me sick. All for one and one for me is their motto.
StephInDal

Denton, TX

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#24
Feb 19, 2009
 
Yeah I agree, it would be crazy if there are names of U.S. politicians on the list o f200-300 they just released. The U.S. gov would probably back off then. Strategic move UBS, haha.
Swiss Francs

United States

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#25
Feb 19, 2009
 
Hey, maybe the Swiss can let the Feds know if Bernie Madoff's money is parked there.

It's a new hedge fund strategy: "We'll get 25% returns per year" means they just hide the money offshore, and the high return is equal to the amount that they are not paying in US Taxes, on their client's money.
Pat

Lake Zurich, IL

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#26
Feb 19, 2009
 
cscs7 wrote:
And let's not be all small-minded about this - there are plenty of wealthy Republicans, Democrats and Independents who have tried to evade paying taxes by hiding their assets in overseas acoounts.
Banks catering to the wealthy, accounting firms and white shoe corporate law firms have made a mint by helping their clients hide their assets in fancy offshore vehicles.
Thank you.

This is not the end of this revealing of the shamelessness and pure greed. I think many forget that during the campaign we were promised the end of turning a blind eye from those using tax havens. The whole world is mad as hell at us as our ways just broke the economies of every single nation.

My family and I do better than okay and we pay our due taxes!!! It is treasonous to even think about evading taxes. How much more junk does one need to buy and/or pass on? Inheritance provisions are fair I bet not one of those to be found on the "list" was in any danger of loss of wealth. I personally fear the Lord and fear the future I put on my descendants if I even think about cutting corners and sinking into lying and cheating out of greed.
James

Chicago, IL

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#28
Feb 20, 2009
 
I agree that it is time to catch those who have been cheating on taxes. But I also think it is a pretext for coming US government seizures of citizens private property. Any government powerful enough to pass out trillions is powerful enough to seize trillions.
moreofthesame

Chicago, IL

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#29
Feb 20, 2009
 
What A Country wrote:
Shouldn't the army being opening a few Swiss skulls? Undoubtedly the 780 million dollar fine will be paid for with money the Swiss stole from the Jews. My father once explained to me why the Swiss are always neutral: they are a country of vultures that sit on the sidelines waiting to pick over the carcasses of the dead.
You comment begs the question, Why did the Jews keep their money in Swiss banks? Sounds like they might not be as innocent as your father explained.

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