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).

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Comments (1)
  • PICOLOMINI
    , contributor
    Comments (1239) | 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 2014, 07:26 AM Reply Like
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