The logo of Swiss bank UBS is pictured behind a red traffic light in Zurich February 10, 2009. (Christian Hartmann/Reuters)A Swiss Bank Is Set to Open Its Secret Files -- New York Times
In the hush-hush world of Swiss banking, the unthinkable is happening: secrets are spilling into the open.
UBS, the largest bank in Switzerland, agreed on Wednesday to divulge the names of well-heeled Americans whom the authorities suspect of using offshore accounts at the bank to evade taxes. The bank admitted conspiring to defraud the Internal Revenue Service and agreed to pay $780 million to settle a sweeping federal investigation into its activities.
It is unclear how many of its clients’ names UBS will divulge. Federal prosecutors have been examining about 19,000 accounts at the bank, but UBS ultimately may disclose the identities of only a few hundred customers.
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Update: Swiss bank secrecy under threat after UBS tax deal -- Yahoo News/Reuters
Update #2: US files new lawsuit in UBS bank secrets case to find tax cheats -- Newsday
My Comment: I am eagerly waiting for such a list to be released. I am sure that many major donors to the two political parties will be on this list .... maybe even a politician or two.
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