The former CIO of $3 trillion financial giant UBS has joined the non-profit behind one of the largest cryptocurrencies
By Frank Chaparro From Business Insider The former head of technology at one of the largest banks in the world has joined the team behind IOTA, the ninth largest cryptocurrency on the market. Oliver Bussmann served as the chief information…
Another investor lawsuit filed over Puerto Rico bonds
From Caribbean News Now SAN JUAN, Puerto Rico — A securities arbitration law firm on Friday filed a claim against UBS Financial Services Inc. of Puerto Rico and UBS Financial Services, Inc. (collectively “UBS”) for $8.5 million. According to the…
HSBC hands over list of 8,000 Israeli Swiss accounts
By Hillel Koren From GLOBES The Israel Tax Authority is checking the information on the lists to see if there is any unreported capital. Today (Monday), the Israel Tax Authority announced it had been in contact with the French Tax…
Deutsche Bank and UBS lose bonus tax case [awarded to staff through Cayman Islands]
From BBC The UK Supreme Court has ruled Deutsche Bank and UBS should pay taxes on bonuses paid to their investment bankers. The bonuses were paid to staff via offshore accounts in the form of shares to avoid attracting income…
UBS investigated for tax fraud and money laundering in Belgium
From BBC Swiss bank giant UBS is being investigated over money laundering and serious organised tax fraud in Belgium. A statement from prosecutors said: “The Swiss bank is suspected of having directly, and not via its Belgian subsidiary, approached Belgian…
Greek prosecutors investigating tax evaders raid UBS office
From CNBC ATHENS, Dec 15 (Reuters) – Greek financial prosecutors have raided a UBS office in Athens seizing records as part of an investigation into possible tax evasion by holders of large bank deposits abroad, court officials said on Tuesday….
UBS hedge fund switch a blow for Cayman Islands
By Sophia Grene From Financial Times UBS has shifted a fund of hedge funds onshore to Ireland from the Cayman Islands, delivering another blow to the reputation of the Caribbean tax haven as the domicile of choice for international hedge…
Five megabanks learned to ‘Game the System,’ Feds say
By Jenna Greene, From The National Law Journal Five megabanks agreed to pay more than $4.2 billion in penalties to settle charges by U.S. and European regulators of attempting to manipulate global foreign-exchange benchmark rates. Characterizing the misconduct as “egregious…
Fort Lauderdale trial aims to topple top level of secret bank accounts
By John Pacenti, From Daily Business Review The Justice Department cracked open Switzerland’s centuries-old custom of banking secrecy when it forced UBS AG to disclose the names of secret U.S. account holders on top of fining it $780 million. But…
Caribbean medical school founder gets 2 years in tax case (1)
By David Voreacos and Susannah Nesmith From Bloomberg A Florida psychiatrist who helped her husband build two Caribbean medical schools was sentenced to two years in prison for her role in a conspiracy to hide millions of dollars in income…
