By Kevin McCoy, USA TODAY, 8/19/2009
More than 150 wealthy American customers of Swiss banking giant UBS (UBS) are under investigation for suspected tax evasion, federal prosecutors disclosed Tuesday.
The glimpse at the breadth of the probe of Americans who may be hiding offshore assets from the IRS came in a Florida federal court filing as UBS prepared to give federal authorities the names of other U.S. clients expected to face similar investigations.
Details of the handover, expected as soon as today, “will produce the identities and account information of additional UBS customers who are believed to have violated United States law,” acting U.S. Attorney Jeffrey Sloman said in the court filing.
Florida tax attorney Martin Press and other lawyers for UBS clients say they expect the bank will provide data for thousands of U.S. account holders — but not… read the full article at its original location.