A damning Senate report found that the bank at its peak in 2006 had more than 22,000 US customers with Swiss accounts whose assets stood as high as $12 billion.
Bankers from Credit Suisse, one of the world's largest financial institutions, courted wealthy Americans in airports, at family weddings and on golf courses from Florida to the Bahamas with a simple pitch: We'll help you hide your money. Show More Summary
Report estimates Swiss bank helped as many as 20,000 U.S. taxpayers evade billions of U.S. tax, but says that so far the U.S. Department of Justice has gotten the identities of only 238 of those account holders and faults Justice for the lack of disclosure.
WASHINGTON — A Senate subcommittee investigation accused Swiss banking giant Credit Suisse of using elaborate “cloak-and-dagger” methods to hide the accounts of 22,000 wealthy American citizens with a total of up to $12 billion in assets from U.S. authorities so they could avoid paying taxes.
ByRobert Wagner: I've written many articles about the Bitcoin, and the question I struggle with most is "why?" I just don't see how the benefits of the Bitcoin outweigh the costs and risks. The main drawback I see is the volatility. If there is anything you don't want a currency to be, it is volatile, and Bitcoin is volatility on steroids. Show More Summary
Ty Warner, the billionaire founder of Beanie Babies stuffed toys, was sentenced to probation for hiding millions of dollars in a Swiss bank account and failing to report his interest income.
(CHICAGO) — The billionaire creator of Beanie Babies was sentenced to two years of probation, but no prison time, on Tuesday for tax evasion on $25 million in income he had stashed away in Swiss bank accounts. H. Ty Warner, 69, appeared...Show More Summary
The Swiss Federal Administrative Court has blocked Swiss Bank Julius Baer from turning over one of its client's offshore bank account information to the Internal Revenue Service according to a report in Bloomberg News. On April 17, 2013...Show More Summary
MIAMI (Reuters) - A former high-ranking UBS banker charged with helping Americans dodge taxes through secret Swiss bank accounts pleaded not guilty to tax fraud conspiracy on Tuesday in federal court in Florida.
MIAMI (Reuters) - A former high-ranking UBS banker charged with helping Americans dodge taxes through secret Swiss bank accounts is expected to plead not guilty on Tuesday to tax fraud conspiracy in federal court in Florida. Raoul Weil,...Show More Summary
H. Ty Warner, he of Beanie Baby fame, is trying to avoid prison time for evading taxes on secret Swiss bank accounts that held over $100 million, Bloomberg's David Voreacos reports. Warner, the billionaire founder of the once-mega popular toy, faces 46 months to 57 months in prison. Show More Summary
The whole Swiss bank account thing is but an “isolated incident.” H. Ty Warner, the billionaire creator of Beanie Baby plush toys, asked a judge to give him probation, not prison, for evading taxes on secret Swiss accounts that held as much as $107 million. Show More Summary
A few months ago, Geneva journalist Christophe Ungar got quite a shock: without any prior notice, his local bank closed out his mutual funds account, resulting in considerable losses due to the early withdrawal. This was not an inadvertent...Show More Summary
ZURICH (Reuters) - Several Swiss regional banks said on Monday they would cooperate with U.S. officials to avoid prosecution in a crackdown on Swiss lenders suspected of helping wealthy Americans evade taxes through offshore account...
BOLOGNA, Italy (Reuters) - Raoul Weil, a former top UBS banker charged by U.S. authorities for allegedly helping Americans dodge taxes via secret Swiss bank accounts, was being extradited to the United States on Friday after spending nearly two months...
ZURICH (Reuters) - Two more Swiss banks said they would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts, a trickle that could rise to about one third of the country's private banks.
ZURICH (Reuters) - Bank Coop on Wednesday became the latest Swiss bank to say it would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.
ZURICH (Reuters) - Valiant Holding AG has become the first Swiss bank to say it would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.
BOLOGNA, Italy (Reuters) - Raoul Weil, a former UBS banker charged by U.S. authorities five years ago for allegedly helping rich Americans dodge taxes via secret Swiss bank accounts, has agreed to go to the United States to face trial after being arres...
The authorities had accused Kostas Vaxevanis, who wanted to shine a light on tax evasion, of violating privacy laws.