Feds sue largest Swiss international bank demanding U.S. account holder names
U.S. government files lawsuit against UBS AG demanding names of 52,000 Americans.
West Palm Beach, FL (JusticeNewsFlash.com)–Bloomberg reported on Thursday, attorneys for the U.S. Department of Justice (DOJ) www.doj.gov filed a lawsuit, in federal court in Miami, demanding the names and identities of 52,000 American account holders. The DOJ alleges Americans hid their Swiss accounts from federal tax authorities like the Internal Revenue Service (IRS) www.irs.gov.
Switzerland’s largest bank, UBS AG, is accused of assisting U.S. customers with evading tax payments on $14.8 billion in assets according to court documents filed by federal lawyers. U.S. and Zurich based UBS is accused, by the Justice Department, of conspiring to help 17,000 Americans hide accounts from the IRS defrauding the government. The federal government’s lawsuit, against the Swiss bank, was filed one day after UBS agreed to pay $780 million and disclose the names of 250 account holder to the government to avoid U.S. prosecution. Federal judges will hear the government’s claims the bank helped thousands of wealthy Americans evade taxes effectively defrauding their very own neighbors.
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