PaineWebber this month fired long-serving broker Terry Cross and terminated its relationship with Bahamas-based financial and corporate services company International Trade & Investments Limited over fears of becoming implicated in a possible tax evasion scandal.
PaineWebber took this aggressive action after being tipped off that Cross, who worked at its San Francisco office, had allegedly promoted tax evasion during a speech he gave at an offshore seminar held two months ago in Nassau by ITI.
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Bahamas Banks & Trusts Fraud Tax USAKeywords
Daniel Ertel International Trade & Investments Limited Joseph Ganci Jr. PaineWebber Roy Bouchier