UBS Being Investigated For Sidling Up To Belgian Customers And Asking If They Were Interested In Some Candy Avoiding Taxes
A Belgian magistrate judge is investigating whether the Swiss bank UBS engaged in fraud, money laundering and other crimes in an effort to help wealthy individuals avoid taxes, the Brussels prosecutor’s office said on Friday. UBS is suspected of having directly approached Belgian customers, without going through its Belgian subsidiary, to encourage clients to engage in transactions meant to evade taxes. UBS acknowledged the inquiry, but it said little more. [Dealbook]