- The Washington Times - Thursday, March 5, 2009

WASHINGTON (AP) — UBS AG now says it had about 47,000 accounts held by Americans who didn’t pay U.S. taxes on their assets, but Switzerland’s biggest bank isn’t providing the names of any more of them to the U.S. government.

UBS official Mark Branson confirmed the figure of 47,000 accounts as of Sept. 30, at a Senate hearing exploring the fight over secrecy and alleged tax evasion. Branson says nearly all the accounts have been closed.

UBS has accepted responsibility for helping Americans hide assets from the U.S. government and turned over the names of about 300 U.S. clients. But the bank is not giving the Internal Revenue Service the names of all U.S. citizens who maintained secret accounts with the bank.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide