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Category: UBS / HSBC - Page 2

Hollis Man Placed on Probation for Tax Evasion through Swiss Bank UBS


Posted on August 18, 2012

Lothar Hoess, an Austrian national, was indicted by U.S. authorities after UBS turned over U.S. client data to the IRS in 2009. On March 29, 2012, Hoess was sentenced to three years of probation after pleading guilty to a single charge of failure to file a report of foreign bank account and financial accounts.

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Swiss Banks to Provide U.S. with Client Information on Undisclosed Accounts

Offshore Account Update, UBS / HSBC

Posted on August 12, 2011

European banks are ready to pay billions to the United States, as well as disclose U.S. clients’ names to the Internal Revenue Service (IRS) and the Department of Justice (DOJ). Switzerland has been known as one of the largest tax havens in the world and wishes to continue its long-practiced tradition of tax secrecy and has allegedly agreed to divulge information requested by U.S. agencies, including U.S. taxpayer information.

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HSBC: One of the Eight Under Grand Jury Investigation?

Offshore Account Update, UBS / HSBC

Posted on August 10, 2011

On Wednesday, September 28, 2011, U.S. authorities charged another India-American, Arvind Ahuja, for evading taxes through the HSBC India branch. These findings have heightened the pressure on HSBC, fueling the fire for the U.S. to build a strong case against the bank and it’s U.S. clients with undisclosed foreign accounts.

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Credit Suisse in Serious Trouble: Account Holders Next as 1 Month for Amnesty Remains

Offshore Account Update, UBS / HSBC

Posted on August 2, 2011

The Department of Justice has made it clear Credit Suisse is in serious trouble and that these are very serious allegations that relate to conduct extending beyond a tax conspiracy and into a broader range of criminal activity.  Specifically, conduct concerning possible destruction of records and helping people even evade the Department of Justice investigations.  Even worse conduct than UBS!

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HSBC Coming into Compliance: Bank Cuts off Ties with Undisclosed Offshore U.S. Account Holders

Offshore Account Update, UBS / HSBC

Posted on July 30, 2011

Recently HSBC India has severed all ties with U.S. Clients and anyone associated with U.S. persons.  Due to heightened pressure by the U.S. government into banks such as UBS and Credit Suisse, HSBC India is taking preventative action in order to limit current investigations by U.S. authorities.  The branch has issued letters to all of its U.S. clients informing them of their recent change in client structure, that is they do not want U.S. clients.

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