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Attorney for self-confessed tax cheats defends action for damages against UBS

May 18, 2012 by David Marchant

HIGHLIGHTS

  • UBS clients 'still have claims' against bank despite guilty pleas to tax fraud, says attorney
  • UBS 'improperly froze accounts', 'took money under false pretenses', and 'violated its own Swiss laws by disclosing names' to IRS
The attorney for seven plaintiffs who are suing Swiss bank UBS for exposing them to "unnecessary criminal investigations" and "tarnishing their good names" even though five of them have pleaded guilty to tax crimes has defended the complaint.

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