The creator of the popular Beanie Baby plush toys became the latest American to face tax evasion charges Wednesday since Switzerland's largest bank UBS began cooperating with US prosecutors.
Swiss banks will pay significant fines to avoid US penalties under a deal announced on Thursday which forces them to begin disclosing the offshore accounts of American clients.
A Dubai-based court dismissed a Kuwaiti sheikh's complaint that UBS failed to pay him $21.4 million as promised for helping the Swiss bank arrange an asset sale by telecom operator Zain.
The Swiss National Bank says that a massive loan to rescue UBS bank during the financial crisis has been paid off and Switzerland's largest bank can now repurchase its once toxic assets.
Swiss bank UBS has agreed to pay nearly $50 million to settle charges over its disclosures related to a money-losing 2007 investment vehicle linked to sub-prime loans, a US agency announced on Tuesday.
A Guatemalan court has ordered the freezing of assets held by ex-president Alfonso Portillo in France, Switzerland and Luxembourg, the nation's top prosecutor says.
A French banking watchdog said on Wednesday that it fined the French branch of UBS, Switzerland's largest bank, ten million euros for helping hundreds of well-heeled clients stash money away in undeclared Swiss accounts.
Credit Suisse faces a penalty of $1.2 billion (1.1 billion francs) from US authorities over cases of tax evasion involving American clients, a Swiss lawyer estimates.
A former UBS trader in the UK will face trial on charges of conspiring to manipulate the Libor interbank lending rate, a British court ruled on Thursday.
Britain's Serious Fraud Office on Tuesday said that former UBS trader Tom Hayes had become the first person to be charged in connection with its probe into the Libor rate-rigging scandal that has rocked the banking sector.
French investigators have placed UBS under formal investigation on suspicion that it tried to persuade rich French clients to open undeclared accounts in Switzerland, a legal source said.
Paris investigators are formally investigating the French branch of Swiss bank UBS on suspicion it helped try to persuade rich French clients to open undeclared accounts in Switzerland, a legal source said.
A former UBS executive director was sentenced on Wednesday to more than four months in jail for having sex with an underaged Singaporean prostitute in a sleaze scandal that sparked uproar in the city-state.
Despite sharp criticism from a handful of UBS shareholders, a strong majority approved pay and bonuses for the executive of Switzerland’s largest bank at the company’s annual meeting in Zurich on Thursday.
A Swiss shareholder activist group is challenging the pay forked out in 2012 to UBS CEO Sergio Ermotti and other executives at Switzerland’s largest bank in the face of its steep losses last year.
With its members in the spotlight amid the Offshore Leaks release of a millions of documents about cash stashed in tax havens, Switzerland's trust-company lobby maintains that its sector's business is legitimate.
Around 300 individuals and 70 companies from Switzerland are implicated in findings by an international investigative team of journalists into the stashing of trillions of dollars in offshore tax havens by wealthy people and companies around the world.
The discovery by Swiss investigators of an undeclared bank account held by France's disgraced former budget minister Jérôme Cahuzac appeared to have sparked his decision to finally come clean about its existence, a Geneva newspaper reported on Wednesday.
France's former budget minister Jérôme Cahuzac confessed on Tuesday to having hidden €600,000 ($770,000) in foreign bank accounts for the last 20 years, reversing repeated denials weeks after a probe was launched into his alleged Swiss account.
French authorities on Wednesday appointed two top magistrates to oversee an international probe into suspected tax fraud involving a Swiss bank account that has forced France's budget minister to resign.
Swiss financial giant UBS says it is poised to quit the panel that sets the Euribor benchmark rate for lending
in euros between banks, becoming the latest player to leave.
A former UBS executive facing a possible jail term for having sex with an underage Singaporean prostitute said at the start of his trial Tuesday that he was tricked into thinking she was an adult.
