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France probing UBS over tax evasion

  • UBS (NYSE:UBS) is being investigated in France and faces accusations of money laundering and tax fraud for helping French clients hide funds from the national tax administration from 2004 to 2012.
  • The bank faced similar allegations from the U.S. Justice Department in 2009.
  • French authorities have ordered UBS to post bail of €1.1B ($1.5B).
Comments (1)
    , contributor
    Comments (636) | Send Message
    Bail, that is a clever French move. To have real money to put on line upfront may well shorten the process . Should become exemplary
    24 Jul, 07:26 AM Reply Like
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