Wisconsin Banking Update
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Swiss Bank Accountholders Sought
Posted on February 20th, 2009 No commentsA government lawsuit filed Feb. 19 seeks the identities of tens of thousands of possible U.S. tax cheats who hid billions of dollars in assets at the Swiss-based bank UBS AG, the Milwaukee Journal Sentinel reported in a Business brief. A defiant Swiss president pledged to maintain his country’s bank secrecy laws. In the suit filed in Miami, the Obama administration wants UBS to turn over information on as many as 52,000 U.S. customers who concealed accounts from the U.S. government in violation of tax laws. A deal announced Feb. 18 provides access to about 250 to 300 UBS customers who used Swiss bank secrecy laws to hide assets.
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