Report Exposes UBS Accountholders

Contrary to what several people have claimed following the unveiling of a deal between the IRS and Swiss tax haven UBS, the bank has released a report stating that the American accountholders in UBS were certainly “not just harmless victims.” In actuality, UBS has stated that its accountholders were well aware of what they were perpetrating.
 
UBS also stated that any legal cases brought on against any of its bankers has not and will not affect the bank in any way. Switzerland has long held its bank secrecy as one of the crown jewels of its economic system, but the acceptance of the deal between it and the United States has finally resolved the issue of tax avoidance due to such secrecy.
 
According to UBS, the employees that were involved in helping foreign accountholders to evade their taxes have been fired, and UBS now expects things to change dramatically as a result of its American deal. The bank now expects significant competition from the rest of the world due to its loss of one its main draws for international depositors.

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