U.S. Sues UBS Seeking Swiss Account Customer Names
By David Voreacos and Carlyn Kolker, Bloomberg.com
The U.S. government sued UBS AG, Switzerland’s largest bank, to try to force disclosure of the identities of as many as 52,000 U.S. customers with secret Swiss accounts.
The lawsuit, filed today in federal court in Miami, alleges that 32,000 secret accounts contained cash and 20,000 held securities, according to the statement. U.S. customers failed to report and pay U.S. income taxes on income earned in those accounts, which held about $14.8 billion in assets in the mid- 2000s, according to a statement from the Justice Department.
The case is U.S. v. UBS AG, 09-20423, U.S. District Court, Southern District of Florida (Miami).
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