U.S. seeks Swiss help in tax-fraud allegations tied to UBS accounts

06/16/2008 | Reuters

U.S. authorities have sought help from Switzerland's federal justice office in a massive tax-evasion case involving offshore bank accounts at UBS. Some UBS clients may have used offshore accounts to hide as much as $20 billion from U.S. tax authorities, federal investigators believe. That led to the loss of at least $300 million in federal income taxes. Swiss law bars banks from turning over information on their clients except in cases of tax fraud.

View Full Article in:

Reuters

Published in Brief: