Remember Bradley Birkenfeld? He’s the guy who single-handedly made the government’s case against UBS and forced the Swiss bank to hand over the names of thousands of tax cheats, which resulted in the US scoring $780 million from UBS and may have inspired some 33,000 Americans to “voluntarily disclose offshore accounts to the IRS, generating more than $5 billion.” And yet, despite his assistance, Birkenfeld wasn’t immediately thanked for a job well done. Instead, he was sentenced to forty months in prison (fair-ish, considering he showed a few clients how to avoid paying taxes himself) and told to piss off by the Internal Revenue Service, from whom he sought an award, because he was “not forthcoming about his own role in the scheme,” even as a Justice Department attorney admitted that “…without Mr. Birkenfeld walking into the door of the Department of Justice in the summer of 2007, I doubt as of today that this massive fraud would have been discovered by the US government” (or as his lawyer put it, “They didn’t know how to spell UBS until he showed up. He didn’t just give them a piece of the puzzle. He gave them the entire puzzle”). Now, after doing 32 months at Schuylkill Federal Correctional Institution, getting let out early on account of “good-time credit,” and living in a halfway house in New Hampshire, Birkenfeld has finally been thrown a bone.
Bradley Birkenfeld, the former UBS AG banker who told the Internal Revenue Service how the bank helped thousands of Americans evade taxes, secured an IRS award of $104 million, an amount his lawyers said may be the largest ever for a U.S. whistle-blower. Birkenfeld told authorities how UBS bankers came to the U.S. to woo rich Americans, managed $20 billion of their assets, and helped them cheat the IRS. He pleaded guilty to conspiracy in 2008, a year after reporting the bank’s conduct to the Justice Department, U.S. Senate, IRS and Securities and Exchange Commission. He was released from prison Aug. 1…Birkenfeld, 47, worked at Zurich-based UBS, the largest Swiss bank, for five years. He sought a reward from the IRS of as much as 30 percent of any taxes the agency recovered as a result of his whistle-blowing activities.
Clearly this whole thing should stir up a few questions inside you all, chief among them: how much money would it take to get you to befriend or or take a job with some known rogue individuals so that you might later blow the whistle on them? Would you do any time for it? If so, how much? And are we talking Club Fed or a place where your roommate insists on cuddling?
UBS Whistle-Blower Secures $104 Million Award From IRS [Bloomberg]
Stop Snitchin'.
- C. Anthony, UBS Director of Compliance
Snitches get stitches.
$104 mm is a nice sum of money. However, you'll need to pay a lot of taxes on that unless you have a good Swiss bank show you a few things. Give us a call.
- UBS
I'm telling.
why the edit from 'where your roommate spoons you every night' to 'where your roommate insists on cuddling' ?
And if you actually want to avoid losing all of that money in the next 6 months you'll give US a call.
- Credit Suisse
"They didn’t know how to spell UBS"
Sounds about right.
- US Gov't Competence Analyst
When are those new clamps gonna get here? These are all rusted-out with snitch juice!
–Francis X. Clampazzo
I still don't know how to spell USB!
- UBS Speling Quatn
He looks like the guy from Reno911.
birkenfeld gonna get his upon release
i happen to think club fed = spooning / cuddling; real prison = gang rape
-guy who could spoon and / or cuddle for the right price
dk what my reservation price is, but if i have to cuddle with raj it would be in excess of $100mm
Because I decided I preferred the way the latter sounded instead? It also leaves a lot more possibilities in terms of visualizing.
The good news is: judgement was for $104mm. The bad news is: internationl legal fees just came in for $105mm
Are you asking me or telling me?
UBS doesn't, suck?
- Confused Guest
Somebody needs to warsh his mouth out….with detergent.
Apparently Snitches get Bitches
Expect a claw-back in November you cheap, lying, no-good, rotten, four-flushing, low-life, snake-licking, dirt-eating, inbred, overstuffed, ignorant, blood-sucking, dog-kissing, brainless, dickless, hopeless, heartless, fat-ass, bug-eyed, stiff-legged, spotty-lipped, worm-headed sack of monkey shit!
-Mitt
what bonehead thinks he's going to blow the lid of a tax scheme that big and have his own involvement in it never come to light? the smart guy would have had his lawyer pre-negotiate immunity for a reduced claim on recoveries. a little less rich, but no prison.
In all fairness if I worked at UBS I would trade 32 months in prison for a bonus that could never be had if I still worked at UBS.
Has he been paying estimated taxes on his earnings while serving in the federal system? Thanks,
- IRS Assistant Commissioner
if by "get his" you mean mediterranean or carribean compound, private jet, 24 hour security, etc, then yes, probably.
Forget getting into an H/Y/P, GS, or a top hedge fund. Whistleblowing bonus is the NKI.
Just went to see what you mean, and think he comes across more as Jim Cramer.
Ahhhh! MISTAH SPAHKLE!!!!
For $104mm… So be it
Anyone else see the resemblance to Jim Cramer?
"Where's my dollahs?"
-Bubbles
More along the lines of Paul Giamatti.
Doesn't apply here, but that's the really fun thing about Dodd-Frank: You can be actively involved in the wrongdoing, and you still get paid as a whistle-blower. Brilliant!
-Dude that CANNOT BELIEVE that online CPE course actually came in handy
40 months and $100 million? Respect.
- S. Dogg
were not really allowed to comment on this, but the real trade is to go long whistle makers.
this guy is gonna go crazy when he get off parole
you can't be either without the BS
We gotta do something with this fucking AIG cash …
Schuylkill Federal Correctional Institution sounds kinda madeup.
way to ruin warsh right away….
goon
I do a better trumpet.
so which of these do you enjoy visualizing
That's fair. Thank you.
I like to picture DB readers and their would-be cell buddy cuddling in the pretzel position– facing each other, both legs and arms intertwined.
oh sorry- were you not asking me?
Turning states evidence the NKI!
Can you be a whistle blower, whistle blower
Let me know
I'm gonna pay you monies to do it
but the bid starts low
You just put 2 and 2 together
and tell me how the evasion flows
Can you be a whistle blower, whistle blower
Here we go
Now you know how to get paid at UBS!!!
Break out a few more of those sekletons and cash in!!!!!!!!
Hey !
Cause spooning leads to forking.
I tried to report the activities going on at my firm, but the SEC said they need video footage.
-Patriarch Partners Analyst
seriously there's a good question here: is a $104mm award from the IRS taxable income?
For $3.25mm a month, I think I'd do the 32 months and spend the time thinking about how I'd spend the money on release. Even better, because he didn't know he would be getting the cash, he'd have found out who his real friends are, rather than being surrounded by freeloaders.
I tink I can simplify this for you guys who seem to be equivocating a bit here.
UBS=Prison
i don't see it, more like the love child of gandolfini and kaizer soze
- geneology quant
this is the new UBS compensation plan: (1) commit crimes for base, (2) blow whistle, (3) collect from government. jail time and looking like Lurch from the Adams family are optional
Get with the times, homie
- S. Lion
Perhaps he learned to play the rusty trombone in prison after mastering the blowing of the whistle.
Thank anyone, I have got just been trying to find information roughly this subject for some time and yours is the best I’ve discovered till today. However, what in regards to the bottom line? Are an individual sure in regards to the source?
Hello! I’m sure this can be somewhat off subject matter but I was thinking which weblog system are you working with for this website? I am getting fed up of WordPress because I’ve had challenges with hackers and i’m wanting at options for another system. I’d personally be amazing when you could place me in the direction of your very good system.
Sweet web site, super pattern, really clean and utilize pleasant.
I like this web site its a master peace ! Glad I noticed this on google .
I’m typically to running a blog and i actually recognize your content. The article has actually peaks my interest. I am going to bookmark your website and preserve checking for new information.
Really great visual appeal on this internet site, I’d value it 10 10.
Very interesting details you have mentioned , appreciate it for putting up. “My work is a game, a very serious game.” by M. C. Escher.
I got what you intend,saved to favorites, very nice internet site.
hello!,I like your writing so considerably! share we communicate extra approximately your post on AOL? I want an expert in this space to solve my issue. Maybe that is you! Looking ahead to see you.
I am glad that I noticed this weblog, exactly the right information that I was searching for! .
I cannot thanks enough for that weblog. Much thanks again. Really great.
Great – I should definitely pronounce, impressed with your site. I had no trouble navigating through all tabs and related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your customer to communicate. Excellent task.
I got what you intend, thanks for posting.Woh I am delighted to find this website through google.
Great post, you have pointed out some great details , I too believe this s a very good website.
Heya i am for the formerly cycle on this juncture. I convey keen on being this board and I get move backward It rightly of use & it helped me outdated a lot. I desire to inform a touch move backward and avoid others equal you helped me.
Life’s road is full of bumps and curves. Know your rights when you hit a rough spot
Thanks for this post, I’m a big fan of this internet site would like to go on updated.
Nice site. I’m jealous. Save the ferrets!!
I like what you guys are up also. Such intelligent work and reporting! Keep up the excellent works guys I’ve incorporated you guys to my blogroll. I think it’ll improve the value of my website :).
http://uggukoutletstore.webeden.co.uk
More than $5 Billion came into the U.S. Treasury because of this whistleblower's efforts. Which one of you "commenters" can match that? Yeah, I didn't think so.
You should all be thanking him every day because the tax revenue that was illegally being withheld by these account holders will now have to be paid, going forward. So that means many millions of dollars in tax revenue for the country in the years to come.
Good day very nice web site!! Man .. Excellent .. Wonderful .. I will bookmark your website and take the feeds also…I’m satisfied to seek out so many useful info here in the publish, we want develop more techniques on this regard, thank you for sharing.
A person essentially assist to make critically posts I’d state. This is the very first time I frequented your website page and to this point? I surprised with the research you made to make this actual post incredible. Magnificent job!
Some truly howling function on behalf with the owner of this site , dead great topic matter.
I rattling thankful to find this website on bing, just what I was looking for : D as well saved to favorites.
I was looking through some of your content on this site and I conceive this website is real instructive! Retain putting up.
Loving the info on this site, you have done outstanding job on the posts.
This kind of lovely blog you’ve, glad I identified it!??
My partner and i nonetheless can not quite assume that I could be 1 of those reading through the crucial recommendations identified on this blog. My family and I are sincerely thankful for your generosity and for presenting me potential to pursue the chosen career path. Appreciate your sharing the crucial info I acquired from your web-site.
I got what you intend,saved to favorites, very nice website .
As I website possessor I think the articles here is quite fantastic, regards for your efforts.
Greetings, I think your website might be having browser compatibility issues. When I look at your blog in Safari, it looks fine however, when opening in IE, it’s got some overlapping issues. I merely wanted to give you a quick heads up! Apart from that, fantastic site!
Ive just bumped on browsergames website , have you ever checked it before? Bye!
As a result you’ll demand ultra powerful online enterprise ideas to keep operating in getting into matters right your incredible web-based work. MLM
I was examining some of your content on this internet website and I believe this website is rattling instructive! Maintain putting up.
Between me and my husband we’ve owned more MP3 players over the years than I can count, including Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, etc. But, the last few years I’ve settled down to one line of players. Why? Because I was happy to discover how well-designed and fun to use the underappreciated (and widely mocked) Zunes are.
Thank you, I’ve just been looking for info approximately this topic for a while and yours is the best I have found out so far. However, what about the bottom line? Are you certain in regards to the source?
For that reason times repeatedly pretty considerably everything, this life certainly is ended up saving a little bit a lot more. The program in fact saves currently the And also carbon really motivated in to planet during these development activities. dc no cost mommy weblog giveaways family trip home gardening home power wash baby laundry detergent
The best and clear News is extremely significantly imptortant to us.
I discovered your blog website on google and check just a couple of of your early posts. Proceed to sustain up the exceptional operate. I just extra up your RSS feed to my MSN Details Reader. Seeking forward to reading a lot more from you in a while!…
i can agree with the post
There is noticeably a great deal of money to comprehend about this. I assume you’ve produced certain nice points in attributes also.
Some genuinely nice stuff on this website , I love it.
Respect to post author, some fantastic information .
Test and Keep iPad UK
Thanks for the thoughts you have contributed here. In addition, I believe there are numerous factors that will keep your auto insurance premium lower. One is, to take into consideration buying motors that are in the good list of car insurance corporations. Cars which can be expensive tend to be more at risk of being lost. Aside from that insurance policies are also in accordance with the value of your car or truck, so the costlier it is, then higher the actual premium you have to pay.
Wonderful blog! Do you’ve any tips and hints for aspiring writers? I’m preparing to start my own site soon but I’m a bit lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? You can find so several options out there that I’m completely overwhelmed .. Any ideas? Kudos!
Among the list of uncomfortable side effects that is currently being pointed out with Red-colored Bull electricity refreshments is actually it’s caffeinated drinks content material. You will find those who believe you can find higher numbers of the level of caffeine staying in 1 container with this strength ingest.
Yay google is my king aided me to discover this outstanding website! .
Thanks for your entire function on this internet site. My mom take interest in performing research and it’s genuinely effortless to comprehend why. Most of us know all about the lively form you deliver rewarding strategies on your internet site and even improve response from other men and women about this point then our own simple princess is really learning a terrific deal. Take pleasure within the remaining portion with the year. Your carrying out a truly wonderful job.
[...]we came across a cool web site that you simply may appreciate. Take a look in case you want[...]
[...]Sites of interest we’ve a link to[...]
I like the efforts you have put in this, appreciate it for all the great blog posts.
http://uggbootsnza.webeden.net/
Hi, you used to write outstanding articles, but the last several posts have been kinda boring… I miss your super writing. Past several posts are just a bit out of track!
Hey! I know this really is kind of off subject but I was wondering which weblog platform are you making use of for this website? I’m acquiring sick and tired of WordPress because I’ve had difficulties with hackers and I’m searching at options for another platform. I would be fantastic in the event you could point me within the direction of a great platform.
really good post, i surely love this website, go on it
On your place I would not do it.
However and its reputation got the rumors with regards to it’s unwanted side effects. The concept is that if some thing is the fact great, in that case there needs to be a thing inside the ingredient that brings the other kind of reaction. This is often among the opinions that the not-so-convinced consumers are considering.
Some really nice and utilitarian information on this internet site, as well I believe the layout contains wonderful features.
One of the negative effects that’s being brought up inside Reddish Half truths energy products is definitely the the level of caffeine content material. You will find people who think that you can find substantial levels of level of caffeine getting from one particular bottle of wine on this strength drink.
Hi there, I found your website via Google whilst searching for a similar topic, your site got here up, it seems to be great. I’ve bookmarked it in my google bookmarks.
I dugg some of you post as I cerebrated they were extremely helpful handy
Among the list of unwanted effects that is staying stated in Red Fluff power refreshments is it has the caffeine intake articles. You’ll find those who imagine that you will find higher quantities of coffee being from a single jar with this power sip.