Reply Fri 14 Nov, 2008 06:37 pm
a banker from UBS (union bank of switzerland) is being accused of having arranged for americans to transfer over six billion dollars to switzerland .
it was all done to keep the money out of reach of the greedy U.S. taxation authorities . after all , why should billionaires have to pay taxes - their lives are tough enough already , aren't they ?
while he has also helped canadians to "safeguard" their money , canadian authorities are so far keeping quiet .

USB officials "have no clue" about the banker's activities - they assume the money arrived at USB from a friendly donor .
taxes ? why should ANYONE have to pay taxes ?


from the article :


A senior Swiss banker who was charged two days ago by United States prosecutors with dispatching bankers to help rich Americans evade taxes also oversaw a covert team in Canada that funnelled as much as $5.6-billion offshore, The Globe and Mail has learned.

Raoul Weil, former head of wealth management for Swiss financial giant UBS, has been accused by the U.S. Department of Justice of equipping a team of bankers with encrypted computers and countersurveillance training in an effort to conceal $20-billion from the Internal Revenue Service.

Internal UBS records, as well as interviews with former UBS officials, show Mr. Weil was in charge of a similar operation in Canada. A team of a dozen or so bankers, known internally in UBS's Zurich and Geneva offices as the “Canada Desk,” made several trips a year to UBS-sponsored events, such as chamber orchestra concerts, and encouraged the country's wealthy elites to move their money to Switzerland.
No former management executives of UBS's Canadian subsidiary reached by The Globe would speak on the record, but several said there were legitimate reasons why a Canadian would prefer a Swiss UBS banker over someone from the Canadian branches. One former official highlighted the service culture and reputation of Swiss bankers.

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Reply Fri 14 Nov, 2008 09:25 pm
The Swiss are a funny lot. Did you ever read the book (sorry, can't remember the name) which criticized the Swiss bankers during WW 2 for taking Jewish folks' money and valuables and keeping them post-war? They handed them over to the Nazis and put into camps, knowing full well that they wouldn't be coming back. It was a big stink.

I think, evetually, there was some kind of settlement by which relatives of those that died in concentration camps were able to collect some of the deposits?
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