DOJ orders UBS to disclose 52,000 names in tax fraud investigation

[Winehole23]

Bikini car washes.

[Marcus Bryant]

We are here
We drink beer
If you don't drink
You are a weak link
So GTFO of here

[spurster]

You better be careful what you say, else you get a class action lawsuit from the weak-livered. Also, keeping a secret stash is exactly what is getting these UBS account holders in trouble. You must be sure to keep it supersecret.

[Winehole23]

The weak livered can meet us in person do discuss the matter, if their beer isn't strong enough. Why threaten a lawsuit right off the bat?

[Winehole23]

*We're not like that at the Moose*.

[Winehole23]

If you are like that, you may not fit in.

[Winehole23]

We make them think they are a member of the club. We start by setting up a special class to initiate them in the traditions of the club, but they never really learn what the club's about. However, we'll collect dues. That will keep them in their place and make them useful.

Reserve what's excellent and posh for masters esoteric, while milking true believers for all they're worth.

Agreed.

The inculcation of a phony tradition to bind morons and their money to us may prove expedient as you suggest, but it sounds like tedious work, and it could easily misfire. Maybe we could outsource that, and not be contaminated by it at all.

[Winehole23]

I demand a public committee be convened for the inspection of aged rum.

[ElNono]

Firm, arbitrary rules.

No cargo pants.

No soft drinks shall be used, except as mixers.

That's an issue.

[Winehole23]

That's an issue.

It's still in the discussion phase, so nothing's set in stone.

Anyway, special waivers can always be made at the discretion of the members.

[Winehole23]

MB, do I have a second?

[ElNono]

Is Scotch accepted at the club?

[Winehole23]

Oh yeah, there's gonna be whiskey.

[ElNono]

Is the Moose considered a "social setting". I only drink at those.

[Winehole23]

100%. It's a bar plus meeting hall plus clubhouse.

[Winehole23]

Do you live in Austin, ElNono?

[ElNono]

Do you live in Austin, ElNono?

No, but I can run the Garden State branch.

[Winehole23]

Do you like aged rum?

[whottt]

Justice Agency Slams UBS's Defense in Tax Case




By BRENT KENDALL

WASHINGTON -- The Justice Department attacked legal arguments made by Swiss banking giant UBS AG, which is trying to fend off the U.S. government's attempt to obtain the iden ies of tens of thousands of the bank's U.S. customers with secret Swiss accounts.


UBS reached a deal with federal authorities in February to avoid criminal prosecution for helping U.S. clients hide their accounts from the Internal Revenue Service. As part of that settlement, UBS agreed to pay $780 million in penalties and res ution and promised to disclose the iden ies of about 250 U.S. customers.


A day later, the Justice Department asked a federal judge in Miami to enforce an IRS summons seeking the iden ies of as many as 52,000 U.S. customers who allegedly hid their UBS accounts.


Government lawyers said in a court brief filed on Tuesday that UBS had a weak case for clinging to Swiss banking secrecy, because the bank knowingly and intentionally helped tens of thousands of wealthy Americans evade hundreds of millions of dollars in taxes.


"Any hardship that UBS might face from refusing to comply with a court order here is a hardship that it brought upon itself," the Justice Department said in a 55-page court filing. "It is time for UBS to face the rest of the consequences that it has brought upon itself."


UBS has said it can't provide information to U.S. tax collectors because the move would violate Swiss privacy laws that prohibit the disclosure to third parties information about Swiss bank accounts.


The bank also has argued that the high-stakes dispute should be resolved diplomatically between the Swiss and U.S. governments instead of in U.S. courts.


"Our position remains that the enforcement of the summons would require UBS to violate Swiss law and is inconsistent with treaty frameworks," UBS spokeswoman Karina Byrne said on Tuesday.


Ms. Byrne said the bank has sought to comply with the summons and has given the IRS "as much information as it can."


Some observers have suggested in recent days that UBS and the Justice Department might be nearing a settlement, but the government's strongly worded court filing on Tuesday gave no hint of that.


Ms. Byrne said reports of a possible settlement in the case "are speculative and possible settlement amounts that have recently been reported have no basis."


The Justice Department dismissed the bank's statement that it had made a good-faith effort to comply with the IRS summons. "The notion that UBS has always acted in 'good faith' to comply with U.S. law ... bears all the hallmarks of an 11th-hour confession, made in the hopes the sinner will be absolved from the full consequences of his wrongdoing," the department said.


A court hearing on the dispute is scheduled for July 13.

http://spurstalk.com/forums/showthread.php?t=130839

[Winehole23]

I'm gettin older.

[Winehole23]

whottt exposes WH23's senility .

Quelle horreur!

[ElNono]

Do you like aged rum?

Depends. If I'm in Cuba I do.

[ElNono]

We should live vicariously to ourselves.

[Winehole23]

banks pay a settlement, will disclose cross-border activities, and dodge criminal charges:

Three Swiss banks dodged criminal prosecution for helping U.S. citizens to evade taxes through offshore bank accounts by agreeing to close the accounts and disclose cross-border activities, the Justice Department said Tuesday.

Credit Agricole Suisse, Dreyfus Sons & Co. and Baumann & Cie resolved potential criminal liability actions through the Justice Department's Swiss Bank Program, which allows Swiss banks to duck tax-related criminal actions in connection with U.S. tax evaders who have stashed money in their banks.

In their nonprosecution agreements with the feds, the three banks agreed to cooperate in future criminal and civil proceedings against tax dodgers, put controls in place to stop evaders from depositing money with them and pay a collective penalty of over $130 million.

All Swiss banks that join the program also agree to report cross-border activities to the U.S. government, provide detailed information on U.S. accountholders, tattle on other banks that have transferred funds into secret accounts and close the tax evaders' accounts.

According to the Justice Department, Credit Agricole Suisse maintained 954 legal and illegal bank accounts since 2008, valued at over $1.8 billion. The bank agreed to pay $99.2 million in penalties.

Dreyfus & Sons held 855 U.S.-related accounts with a combined value of $1.76 billion, and will pay over $24 million in penalties.

Baumann maintained 167 U.S. accounts valued at $514 million and owes $7.7 million in penalties.

http://www.courthousenews.com/2015/1...ax-evaders.htm

[Winehole23]

it's the end of Swiss banking as we knew it