The Swiss bank UBS settled with the USA government agreeing to turn over the records on 4450 Swiss Bank Account in UBS bank. The USA tried to get 52,000 but settled for 4450 files. Implications of the Case – The USA will probably hammer a few of these accountholders as hard as they can. The USA has eight times more people in prison than China. They lose long sentences, especially for crimes where there is no victim other than the government. Many account holders will get scared and settle with the IRS for back taxes, penalties, interest...
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