Tag Archive for Swiss

Weil Case: What Was The Swiss Role?

If you poke about under rocks for long enough, you’d better be prepared to find something unpleasant. That’s what the US government is realizing as the Raoul Weil case finally goes to court. Weil, 54, is accused of helping US citizens avoid taxes while working as head of Global Wealth Management at Switzerland’s UBS – and some of the stories emerging are as bizarre as the numbers are huge.

Raoul Weil, left, arrives with his wife, Susan Lerch Weil, for the start of his trial at federal court on Tuesday in Fort Lauderdale.

US Clients

It’s thought that UBS’s clients included around 20,000 US citizens, among them, almost Read More

Written by | Posted in IRS • Tax Fraud/Evasion/Crimes

US-Swiss Agreement Puts Swiss Banks and US Non FBAR Filers at Great Risk!

Swiss Banks agreeing to US Plan for their depositors.US Persons Who Previously Held Secret Swiss Accounts Are Running a Serious Risk Unless They Make a Voluntary Disclosure ASAP!

On August 29, 2013 we posted Swiss Banks Agree to Plan to End Past US Tax Evasion Issues! where we discussed that the Swiss banks were ready to pay hefty fines for sheltering United States tax fugitives under the terms of a new deal given the green light by the Swiss government. t reflects the long-standing desire of the US to end the decades-long practice of Swiss banks, supported by their government, of providing safe haven for US tax evaders through a wall of secrecy and a “don’t ask, don’t tell” policy.

Now the details of this agreement are coming to light. The US-Swiss agreement takes the form of a plea agreement as signified by its name, “Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks.” It was signed for the United States by the US Department of Justice, not by the US Treasury Department, implying that US scrutiny of Swiss banks has progressed from tax matters to prosecution concerns. Read More

Written by | Posted in FATCA • United States