A French prosecutor on Thursday called for the Swiss UBS bank to be fined €3.7 billion (4.2 billion dollars) for "knowingly" helping French customers commit tax fraud.
A Spanish court is due to decide within two weeks whether or not to extradite Herve Falciani, a former HSBC analyst who leaked documents alleging widespread tax evasion, to Switzerland, his lawyer said Tuesday.
HSBC Private Bank, a Swiss unit of banking giant HSBC, has agreed to pay 300 million euros ($352 million) to avoid going to trial in France for enabling tax fraud, prosecutors said on Tuesday.
Authorities in Europe and Australia announced a sweeping tax evasion probe on Friday reportedly targeting Credit Suisse clients and senior employees, as investigators detailed arrests and the seizure of artworks and gold.
Swiss banking giant UBS will go on trial in France for establishing a wide-ranging tax fraud scheme worth billions of
euros, legal sources told AFP on Monday.
The Switzerland-based heiress to the fortune of French couturier Nina Ricci on Thursday launched an appeal to avoid jail time for tax fraud, in one of the toughest sentences of its kind in French fiscal history.
Swiss customs authorities have slapped a billionaire with a $4 million fine for failing to properly declare some 200 artworks imported into Switzerland, according to media reports confirmed by officials on Sunday.
The Swiss private banking giant UBS has agreed to pay $15 million to settle US allegations of selling risky derivative investments to thousands of unsophisticated investors, US market regulators said on Wednesday.
Switzerland has charged a former employee of the country's largest bank UBS with allegedly selling German authorities the files of wealthy clients suspected of tax evasion, officials and media said on Tuesday.
Swiss banking giant UBS said on Tuesday it had been ordered to hand over client information to the French tax authorities,
amid allegations it orchestrated a vast system of tax fraud in France.
French finance prosecutors have asked for Swiss bank UBS to face trial for allegedly orchestrating a vast system of tax fraud in France, a legal source said on Monday.
Swiss police have arrested fugitive Italian financier Marco Marenco, wanted for fraud and tax evasion in his country, in Lugano, according to police and media reports.
Switzerland's banking sector, facing the end of the secrecy that was once the bedrock of its business, is turning to China as it seeks new markets for the future.
Amid a massive scandal involving France's former budget minister and an undeclared Swiss bank account, Swiss banks are more eager than ever to kick out tax cheats and clear their names, bankers and industry experts say.
