Yahoo News reports that the U.S. has just filed a lawsuit in Federal court to force UBS AG to disclose the names of over 50,000 American taxpayer-investors.
The company said it will fight in court to keep the names private, arguing Swiss bank secrecy laws shield those customers.
The lawsuit comes a day after the Justice Department struck a deal with UBS to get access to some of its customers who used Swiss bank secrecy law to hide billions of dollars in assets.
According to the government’s lawsuit, the accounts in question held about $14.8 billion in assets in the past decade.
For more on the UBS AG, Department of Justice deal see Bad News For UBS Investors: UBS to Disclose Investor Names to IRS
The bad news just got worse!
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1 Justice Department May Pursue Criminal Charges Against UBS Execs // Mar 5, 2009 at 2:29 pm
[...] United States Sues UBS to Force Disclosure of American Taxpayers’ Names Bookmark & Share: [...]
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[...] UBS investors well know, the push has already begun in earnest and we expect it to intensify as the Obama [...]
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5 UBS & US Tax Dispute Agreement Done // Aug 12, 2009 at 9:57 am
[...] United States Sues UBS to Force Disclosure of American Taxpayer Names [...]
6 Tax Crimes: UBS Investor Criminal Tax Cases Under Way // Aug 14, 2009 at 9:22 am
[...] United States Sues UBS to Force Disclosure of American Taxpayer Names [...]
7 UBS to Disclose 5,000 American Taxpayer Names // Aug 17, 2009 at 8:48 am
[...] United States Sues UBS to Force Disclosure of American Taxpayer Names [...]
8 UBS to Disclose 5,000 American Taxpayer Names // Aug 17, 2009 at 8:48 am
[...] United States Sues UBS to Force Disclosure of American Taxpayer Names [...]
9 IRS Reveals UBS Disclosure Criteria // Nov 17, 2009 at 12:48 pm
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