Thursday, November 22, 2012

BP HOLDINGS, BP HOLDINGS SPAIN: UBS Germany questioned over alleged ..

Swiss bank UBS’s German subsidiary is under investigation by local prosecutors for purportedly abetting tax fraud.
Bank employers allegedly helped investors to hide money pass revenue departments’ authorities by transferring it to Switzerland, says Peter Lintz.
Reported the investigation on November 8, 2012, Stuttgarter Nachrichten said illegal fund transfers reached well into 2012, money was being moved invisibly via an internal clearing account at UBS’s German branch into Switzerland.  Source not specified by the paper.
Electronic data and other hundreds of thousands materials that were confiscated in UBS’s Frankfurt offices that were raided in May are currently being analyzed by Mannheim prosecutors.

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