UBS settles US tax evasion case (Dealscape

Struggling Swiss bank UBS gained relief from a major headache after reaching a $780 million settlement with U.S. securities and tax authorities that will allow it to avoid prosecution for helping clients hide $20 billion in taxable funds.

The deeply wounded bank said Thursday it will hand over $380 million in profits earned on the activities as well as $400 million in various unpaid taxes, interest and related penalties.

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NOT A SUBSCRIBER? UBS settles US tax evasion case Posted on February 19, 2009 12:03 PM Struggling Swiss bank UBS gained relief from a major headache after reaching a $780 million settlement with U.S. securities and tax authorities that will allow it to avoid prosecution for helping clients hide $20 billion in taxable funds. The deeply wounded bank said Thursday it will hand over $380 million in profits earned on the activities as well as $400 million in various unpaid taxes, interest and related penalties. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 7,487 articles related to UBS AG 56 in-depth reports of companies facing Bankruptcy due to Accounting or Litigation issues 32 company pages related to Switzerland 32 company pages related to UBS 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forget your password? Missing a product?

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