Looks like UBS and the U.S. government have struck a deal in the contentious case involving tax-avoiding U.S. clients of the big Swiss bank. The case will likely be dismissed as soon as the final agreement is effected. About 52,000 American clients are suspected of some sort of tax evasion.

Reuters reports that the settlement, still undisclosed officially, could "involve the disclosure to U.S. authorities of 3,000 to perhaps more than 10,000 names of American clients suspected of using offshore accounts to evade taxes." So it looks like a lot of smaller tax cheats will get a pass. For UBS, the drama may not be over. Some may claim that in handing over such information to U.S. authorities it may violate Swiss bank secrecy laws.   

For more:
- here's the article

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