The lawsuit accuses UBS and Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority, or Finma, of violating Swiss bank secrecy laws and of conducting what Swiss law considers illegal activities with foreign authorities. It also named Peter Kurer, the chairman of UBS, and Eugen Haltiner, the chairman of Finma, as defendants.
The suit, filed by a lawyer in Zurich, Andreas Rued, on behalf of nearly a dozen American clients, underscores the growing clash between Swiss banking secrecy laws and those of the United States. Tax evasion is not considered a crime in Switzerland. Disclosing client names under Swiss law is a criminal offense and can expose bank executives and officers to fines, prison terms and other penalties.
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Current DateTime: 06:05:04 25 Feb 2009
LinksList Documentid: 29385692* UBS Placed $31 Billion Wrong Order
* Pros: Half Measures Won’t Cure Banks
* EU Sets Bad Bank GuidelinesUBS is the world’s largest private bank and Switzerland is the world’s largest offshore tax haven, with trillions of dollars in assets.
The lawsuit, which UBS described in an internal memo late Tuesday, stems from UBS’s agreement last week to turn over to federal authorities in Washington the names of 250 wealthy Americans suspected of using secret UBS offshore accounts and entities to evade taxes.
Keep this in Mind
If you're above the law... You're not covered by any law, and we don't need a license... say hello free game! Think about it!
See a Rothschild... Remove it from the planet
“The six-pointed star was an Egyptian occult symbol which KING SOLOMON adopted when he went into idolatry and witchcraft and built an altar for Ashteroth (star). It was seen in Arab associations with Jews (and these were obviously cabalists) till the 16th century and the influence of the Cabalist Isaac Luria to the 17th century when Mayer Amschel Bauer used it on his door. Then he changed his family name to Rothschild…incorporating it into his family’s coat of arms. Finally, it became the insignia for ZIONISM.”