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UBS AG

A collection of news and information related to UBS AG published by this site and its partners.

Top UBS AG Articles

Displaying items 12-22
  • Beanie Babies creator wants probation, not prison, for tax evasion

    H. Ty Warner, the billionaire creator of the popular Beanie Babies toys, is urging a federal judge to sentence him to probation for tax evasion. The 69-year-old tycoon pleaded guilty to a single count of felony tax evasion in October, acknowledging that...
  • Beanie Babies founder gets probation for tax evasion

    Ty Warner, the billionaire founder of Beanie Babies stuffed toys, was sentenced to probation for hiding millions of dollars in a Swiss bank account and failing to report his interest income. U.S. District Judge Charles Kocoras rejected federal...
  • Senate probe accuses Swiss bank of helping rich Americans evade taxes

    WASHINGTON — A Senate subcommittee investigation accused Swiss banking giant Credit Suisse of using elaborate "cloak and dagger" methods to hide the accounts of 22,000 wealthy American citizens with a total of up to $12 billion in assets from U.S....
  • Swiss bankers say shielding U.S. money from taxes is 'mistake'

    WASHINGTON — Credit Suisse executives admitted that the giant Swiss bank helped Americans shield as much as $12 billion from taxes and even acknowledged the practice was a "mistake" and "unacceptable." But they said they couldn't do much beyond...
  • UBS agrees to settle U.S. claims it misrepresented mortgage bonds

    UBS agrees to settle U.S. claims it misrepresented mortgage bonds
    WASHINGTON -- UBS said Monday it agreed to settle a lawsuit brought by U.S. regulators alleging the Swiss banking giant misrepresented mortgage-backed securities sold to Fannie Mae and Freddie Mac in the years leading up to the subprime-loan meltdown....
  • IRS awards UBS whistleblower Bradley Birkenfeld $104 million

    It pays to rat out your tax-dodging clients. A former banker who helped wealthy Americans illegally evade taxes, and later confessed his transgressions and cooperated with the government, has been awarded $104 million in what appears to be the largest-...
  • Swiss bank UBS to cut 10,000 jobs, or 16% of workforce, by 2015

    Swiss bank UBS to cut 10,000 jobs, or 16% of workforce, by 2015
    Swiss bank UBS will cut 10,000 jobs as it exits from its fixed-income trading business and tries to cut costs and concentrate on wealth management. The Zurich, Switzerland-based institution, which stated that it is “significantly reshaping its...
  • U.S., UBS agree to $885-million settlement over mortgage bonds

    U.S., UBS agree to $885-million settlement over mortgage bonds
    WASHINGTON -- U.S. regulators said Thursday that they reached an $885-million settlement with UBS Americas Inc. of a suit alleging that the subsidiary of the Swiss banking giant misrepresented mortgage bonds it sold to Fannie Mae and Freddie Mac. The...
  • UBS to pay $50 million to settle SEC charges

    UBS to pay $50 million to settle SEC charges
    UBS will pay $50 million to settle charges by the U.S. Securities and Exchange Commission that the Swiss bank misled investors, the regulatory agency announced Tuesday. UBS Securities was accused of violating securities laws while structuring and...
  • Skokie man gets year in prison, $3.75 million penalty in Swiss bank tax evasion

    Skokie man gets year in prison, $3.75 million penalty in Swiss bank tax evasion
    The first taxpayer charged in Chicago in an investigation into clients of overseas banks will serve a year and a day in prison after paying almost $4 million in penalties for tax evasion, prosecutors said today. The owner of a Skokie cemetery monument...
  • U.S. sues BofA over mortgage-backed securities

    In twin securities-fraud lawsuits against Bank of America Corp., the federal government is accusing the nation's second-largest lender of lying to investors about supposedly prime loans that more closely resembled subprime "liar loans." The civil suits,...