Whistleblower awarded $104 million in Swiss bank tax fraud case
09/11/2012 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
U.S. – A whistleblower was awarded $104 million by U.S. tax authorities in a tax fraud case against Swiss bank UBS AG. As reported by Reuters, Bradley Birkenfeld, who was released from prison last month, was awarded the large payout in relation to a case in which the bank entered into a deferred prosecution agreement with an order of $780 million in fines, penalties, and other fees in 2009.
Birkenfeld received jailtime for allegedly withholding information about UBS from authorities, but did turn over some information prior.
IRS spokeswoman Michelle Eldridge is quoted by Reuters as releasing the statement regarding the award, “The IRS believes that the whistleblower statute provides a valuable tool to combat tax non-compliance, and this award reflects our commitment to the law.”
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