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Prosecution of UBS informant seen backfiring on U.S.
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 10/9/2009 10:59:17 AM

By: Jailed whistleblower

"MIAMI (Reuters) - The key informant in the U.S. tax evasion case against Swiss bank UBS AG faces prison next year, but his harsher-than-expected treatment by the U.S. Justice Department will undermine efforts to expose secretive offshore tax havens, lawyers and whistle-blower advocates say."

http://finance.yahoo.com/news/Prosecution-of-UBS-informant-rb-2002154759.html;_ylt=AiKKAolCEuIJjTh00qaKp1S7YWsA;_ylu=X3oDMTE1M3JvMHQzBHBvcwM3BHNlYwN0b3BTdG9yaWVzBHNsawNwcm9zZWN1dGlvbm8-?x=0&sec=topStories&pos=5&asset=&ccode=


Anonymous
Posted: Saturday, August 13, 2011

Posted: 10/10/2009 1:35:50 PM

By: Overlooking

The publicity has created a deterrent for those who might have otherwise attempted some goofy scheme involving Switzerland, which place now has (rightfully or wrongfully) the reputation of being "the place where they will turn you in."


Anonymous
Posted: Saturday, August 13, 2011

Posted: 10/10/2009 11:24:25 AM

By: knightmare3000

from my perspective as having Swiss accounts and the reaction or other banks to this whole thing is this: a. the Swiss banks are less than friendly to US customers either old or new, b. some of the Swiss banks are giving US clients the boot and terminating their accounts,c. the whole thing has tarnished the reputation of the Swiss banks ,d. only a few US miscreants will be prosecuted--most of the large accounts have already fled to other banks in other countries, e. very little was accomplished by the whole thing. the US treasury and IRS are a little naive in that regard. they thought they would get several large whales,but unfortunately they got a only few sardines


Anonymous
Posted: Saturday, August 13, 2011

Posted: 10/9/2009 3:59:02 PM

By: lil ole me

If Birkenfeld had acted for altruistic reasons, then, perhaps some sympathy might be understandable, but just for the money, no way; hang 'em high I say!


 

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