To: SiouxPal who wrote (161208 ) 2/19/2009 2:24:28 PM From: Wharf Rat Respond to of 362845 We can stay in SK for another year. I've got the cost covered. UBS: IRS FRAUD, 780 MLN USD TO SETTLE (AGI) - Zurich/Washington, 19 Feb. ? The scandal in which the Swiss Ubs bank is involved had been settled for 780 million dollars. The bank had assisted some American clients in evading taxes and hide properties in offshore accounts. The bank must also disclose the names of some clients according to the deal with US authorities. The Swiss daily 'Le Temps' writes that 250 clients will be prosecuted. The bank also promised to stop its services to US citizens with undeclared accounts. According to the Department of Justice, between 17,000 and 20,000 Ubs clients are involved in defrauding the Internal Revenue Service, for a total of 20 billion dollars. ''We take full responsibility for these illegal activities'' said Ubs president Peter Kurer. The case exploded in June when Bradley Birkenfled, former Ubs manager, confessed to helping a wealthy American clients hide 200 million dollars from the IRS. Meanwhile Ubs share are up 3pct on the Zurich Stock Exchange. Finma, the Swiss financial board, does not share the optimism of the markets and is convinced that the deal, on of the most expensive in history, could jeopardise the bank itself. ''So much money can have drastic consequences for the liquidity of Ubs and can even jeopardise its existence'' said Finma.agi.it == 'The Swiss daily 'Le Temps' writes that 250 clients will be prosecuted. The bank also promised to stop its services to US citizens with undeclared accounts" How many of those 250 call me unpatriotic cuz I didn't support the policies of GWB? Whie I paid taxes for them.