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Swiss Bank
Latest Headlines
Latest Headlines
UBS: Gruebel steps down, Ermotti steps up
Oswald Gruebel was something of an industry hero when he turned around vaunted Swiss bank Credit Suisse, which nearly went belly up in 2008 because of more than $50 billion in losses on various toxic assets.
When he was brought out of retirement to similarly turn around UBS, the industry cheer
Credit Suisse being investigated by DOJ
The U.S. Department of Justice (DOJ) isn't playing games when it comes to overseas banks that aim to help American citizens evade taxes.
This was evident during the very aggressive approach to the probe of UBS over the past two years. Recall the Swiss bank was accused of helping Americans evad
UBS nears settlement with United States
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.
New wrinkle in UBS tax-scam probe
Recall that UBS has admitted it failed to properly withhold taxes on 17,000 accounts held by Americans. But that may be a low-ball figure, according to the New York Times . Investigators are looking into how the bank handled taxes for 35,000 American accounts. "If UBS failed to collect taxes on
Swiss banking taking a huge hit
So much for the vaunted secrecy of Swiss banks. Looks like UBS will shut down a lot of Swiss accounts held for Americans, in the wake of allegations that it helped Americans illegally avoid taxes. The Washington Post reports that the move will essentially out some American clients, exposing th
New York sues UBS over auction rate securities
UBS has once again found itself the target of federal charges. This time, New York Attorney General Andrew Cuomo has charged the Swiss bank with illegally promoting auction rate securities as safe investments when executives knew they were anything but. According to the AP , investigators have
