• 18 Feb 2009 at 5:28 PM

Presented Without Comment: They Want The Names

By Equity Private

UBS will pay $780 million in fines and immediately turn over some client names to settle a federal criminal probe into the bank’s role in helping U.S. taxpayers hide bank accounts from the IRS. The Swiss bank will admit to wrongdoing as part of its deferred-prosecution agreement with the Justice Department.

Deferred Prosecution Agreement (.pdf) [The Wall Street Journal]

Comments (16)

  1. 1
    Posted by guest | February 18, 2009 at 5:30 PM

    U B Sucks

  2. 2
    Posted by guest | February 18, 2009 at 5:31 PM

    In case you needed a reminder.

  3. 3
    Posted by Anal_yst | February 18, 2009 at 5:33 PM

    how badly did the Gubment have UBS by the cajones that they not only squealed (they didn’t get the “no snitchin” memo?), but actually admitted wrongdoing?
    NO ONE admits wrongdoing, EVER!

  4. 4
    Posted by guest | February 18, 2009 at 5:35 PM

    Where’s Raoul Weil? Are they giving him up?

  5. 5
    Posted by guest | February 18, 2009 at 5:39 PM

    What’s this “some client names”? How do you make it onto the good list?

  6. 6
    Posted by guest | February 18, 2009 at 5:39 PM

    FREE GOVERNMENT CASH
    http://www.govgrantfunds.com/

  7. 7
    Posted by guest | February 18, 2009 at 5:45 PM

    What is a deferred prosecution agreement? How do I get one?
    B. Madoff (but not the Ponzi one)

  8. 8
    Posted by Lowly Assistant | February 18, 2009 at 5:54 PM

    You know, there’s something to be said about the numerous fraud cases/tax evasion issues coming from the government’s obvious negligence since 2002 (note: this has nothing to do with the Bush-era, just pointing out our government’s last period of enlightenment re: “Everything’s Fucked”). Need anyone be reminded how wasteful the policy-makers truly are/will forever be?
    Wonderful: “We truly fucked-up, but we’re learning. We’re back on track. Another day; another lesson.”

  9. 9
    Posted by Lowly Assistant | February 18, 2009 at 5:59 PM

    ALSO, obviously, the negligence is a full reflection of what happens when they lack funding. These evaders directly caused the IRS/SEC to malfunction due to said monies not floating through D.C.
    Obvs.

  10. 10
    Posted by guest | February 18, 2009 at 6:14 PM

    Partial client names to be provided:
    B. Madoff
    A. Hitler
    Sir A. Stanford
    E. Spitzer
    A. Duprey
    Gov Blagovich
    C. Gasparino

  11. 11
    Posted by guest | February 18, 2009 at 6:40 PM

    All client names, not some, ALL. Remember the guy who escaped with the suitcase? Don’t they have the names already or was that another bank?

  12. 12
    Posted by guest | February 18, 2009 at 6:55 PM

    U B Screwed : US & US, UBS.

  13. 13
    Posted by guest | February 18, 2009 at 7:12 PM

    So much for Swiss bank secrecy laws. Next time, try Lichtenstein, the Caymans, Monaco, Singapore or the Cook Islands.

  14. 14
    Posted by guest | February 18, 2009 at 7:26 PM

    great tag

  15. 15
    Posted by guest | February 19, 2009 at 12:40 AM

    If you’re trying to hide assets from the IRS, for chrissakes don’t use a firm that has operations in the US. Anyone who couldn’t figure that out was probably also a Madoff client.

  16. 16
    Posted by NAS Keflavik boi | February 19, 2009 at 8:32 AM

    Hey that fine will fund EXACTLY 1/1000th of the Obambailout!!

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