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French authorities have widened their probe of UBS (UBS), placing the Swiss bank under formal...

French authorities have widened their probe of UBS (UBS), placing the Swiss bank under formal investigation for possibly offering clients investments that were designed to evade taxes. Such an inquiry means there is "serious or consistent evidence" that can implicate a suspect in a crime. Last week, France put UBS's French unit under formal investigation.
Comments (1)
  • John Wilson
    , contributor
    Comments (1144) | Send Message
     
    Why should UBS be expected to report account information to every high-tax government on earth? Is it possible that those accounts and investments max have existed prior to implementation of some of these tax laws like Frances' 75% tax on certain income? It is governments that are displaying reprehensible behavior, not investors.
    8 Jun 2013, 01:51 PM Reply Like
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