Evasion DisputeSwiss, U.S. Reach Agreement in UBS Tax
Daily Business Review
The fate of 52,000 American clients of Swiss banking giant UBS, believed to be holding nearly $15 billion in secret accounts, is contained in details of a settlement agreement reached Wednesday between Swiss and U.S. negotiators. Details of the settlement have not been released, but experts say one thing is inevitable -- indictments of UBS clients that have been hiding money from the U.S. government in Swiss accounts and potentially the professionals that helped them, including lawyers and accountants.
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