Prosecutors search Frankfurt subsidiary of Swiss bank UBS in tax evasion investigation
The German offices of a subsidiary of the bank are being searched as part of a probe into tax evasion, a spokesman said Wednesday.
The spokesman for UBS-Europe confirmed the information reported by a German business magazine, which also reported that the homes of some 2,000 customers of the bank were also being searched.
The probe, launched Tuesday, was being led by investigators from the northwestern city of Bochum into the bank, formerly known as UBS-Luxembourg and which is headquartered in Frankfurt.
A spokesman for prosecutors cited by the magazine said "in-depth investigations are under way concerning a number of suspects throughout German territory."
Prosecutors suspect the holders of the accounts did not declare investment income not listed on tax declarations.
The probe was launched by German authorities based on information on some 2,000 bank clients purchased from an informant. UBS officials at the group's headquarters in Zurich declined to comment on Wednesday.
READ MORE: Profits of Swiss bank UBS exceed expectation
Comments
See Also
The spokesman for UBS-Europe confirmed the information reported by a German business magazine, which also reported that the homes of some 2,000 customers of the bank were also being searched.
The probe, launched Tuesday, was being led by investigators from the northwestern city of Bochum into the bank, formerly known as UBS-Luxembourg and which is headquartered in Frankfurt.
A spokesman for prosecutors cited by the magazine said "in-depth investigations are under way concerning a number of suspects throughout German territory."
Prosecutors suspect the holders of the accounts did not declare investment income not listed on tax declarations.
The probe was launched by German authorities based on information on some 2,000 bank clients purchased from an informant. UBS officials at the group's headquarters in Zurich declined to comment on Wednesday.
READ MORE: Profits of Swiss bank UBS exceed expectation
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.