Arab Today, arab today us charges swiss bankers for hiding 12 billion
Last Updated : GMT 15:54:21
Arab Today, arab today
Arab Today, arab today

US charges Swiss bankers for hiding $1.2 billion

Arab Today, arab today

Arab Today, arab today US charges Swiss bankers for hiding $1.2 billion

New York - AFP

Three Swiss bankers were indicted in the United States Tuesday, accused of hiding $1.2 billion in assets of US clients seeking to avoid declaring their full wealth to tax authorities. The bankers, Michael Berlinka, Urs Frei and Roger Keller, were accused of \"conspiring with US taxpayers and others\" in a massive tax fraud scheme. In an indictment, the three bankers were said to have been client advisers at the Zurich branch of an institution identified only as \"Swiss Bank A.\" They allegedly conspired with their US clients to hide the existence of bank accounts and the income they generated from the Internal Revenue Service, which collects taxes and requires US citizens to declare their holdings both at home and abroad. Swiss banks, which have a longstanding practice of offering clients secrecy, have come under steady attack by US authorities, highlighted by a probe into banking giant UBS which led to a deal between US and Swiss authorities. The service by \"Bank A\" was allegedly ramped up in 2008 and 2009 \"in an effort to capture business lost by UBS AG and another large international Swiss bank in the wake of widespread news reports that the IRS was investigating UBS for helping US taxpayers evade taxes and hide assets in Swiss bank accounts,\" New York federal prosecutors said in a statement. They \"allegedly told various US taxpayer-clients that their undeclared accounts at Swiss Bank A would not be disclosed to the United States authorities because Swiss Bank A had a long tradition of bank secrecy.\" The three accused bankers live in Switzerland. If convicted in the United States they would face maximum term of five years in prison. In the UBS case, some 4,000 case files on American clients of UBS were handed over to the United States in 2010, after Washington dropped a summons against the bank over tax evasion. US tax authorities had started their offensive against UBS in 2008 after questioning a former banker, prosecuting the bank through US courts and forcing it to pay a $780 million fine and hand over client names.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us charges swiss bankers for hiding 12 billion Arab Today, arab today us charges swiss bankers for hiding 12 billion

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday