Bradley Birkenfeld, former UBS banker turned whistleblower tells his story in an article released today by CNBC’s Eamon Javers. Why did the US pay this former Swiss banker $104M? is accompanied by several short videos of the the interview Javers conducted with Birkenfeld.

Mr. Birkenfeld is the world’s largest Internal Revenue Service (IRS) Tax Fraud Whistleblower. He was rewarded for disclosing illegal offshore Swiss banking that resulted in over $5 billion recovered for U.S. taxpayers. His information forced Switzerland to change its international treaty with the United States resulting and its largest bank was forced to turn over the names of over 4,900 U.S. citizens who held illegal offshore accounts. Mr. Birkenfeld received a $104 million reward from the IRS Whistleblower Program.
Continue Reading UBS Whistleblower Bradley Birkenfeld Speaks

The Wall Street Journal reports that Swiss bank whistleblowers Bradley Birkenfeld and Hervé Falciani are schedule to take part in a panel discussion at the OffshoreAlert Conference in Miami Beach May 3-5.

The panel entitled “Inside the UBS & HSBC Leaks,” will take participants  “inside the UBS and HSBC leaks and discuss issues material to whistleblowing, including the treatment of whistleblowers by law enforcement and tax collection agencies, how the system can be improved, the extent of global tax evasion, and the involvement of the world’s major banks.”
Continue Reading Swiss Banking Whistleblowers to Appear at Offshore Banking Conference

UBS whistleblower Bradley Birkenfeld who assisted the U.S. in its successful prosecution of Swiss bank UBS AG for aiding U.S. citizens to commit tax evasion, has been asked to assist France with a similar investigation. Mr. Birkenfeld will travel to Paris to comply with a French subpoena requiring him to testify against UBS AG. French authorities have demanded that Birkenfeld provide testimony and “documentary evidence.”

Mr. Birkenfeld was a key part of the U.S. prosecution of UBS that resulted in the 2009 settlement, which included a deferred prosecution agreement. He had started cooperating with authorities in 2007, by detailing ways that the bank actively helped clients maintain undeclared accounts shielded by Switzerland’s bank secrecy laws. At the time of its settlement, UBS acknowledged helping Americans evade taxes. 
Continue Reading UBS Whistleblower to Assist French Investigation of Swiss Bank

Washington, D.C. May 20, 2014. The National Whistleblower Center Executive Director, Stephen M. Kohn (who also served as one of the attorneys for UBS tax whistleblower Bradley Birkenfeld), issued the following statement regarding the U.S. government’s prosecution of Credit Suisse bank:

“On May 19, 2014 the Swiss bank Credit Suisse AG pleaded guilty to helping wealthy Americans avoid taxes and paid a $2.6 billion fine.  While this was a significant step forward in policing illegal offshore accounts, the prosecution raises a number of troubling issues.”

“Swiss banking giant UBS was prosecuted in 2009.  Despite the fact that UBS’s illegal offshore holdings were twice as large as Credit Suisse’s, UBS paid a fine of only $780 million, two thirds less then the Credit Suisse penalty.  Why did UBS pay such a small penalty in relation to the magnitude of the crimes it committed?”

“The reason is simple. 
Continue Reading National Whistleblower Center Releases Statement on the Prosecution of Credit Suisse

National Whistleblower Center (“NWC”), the National Whistleblowers Legal Defense and Education Fund (“Fund”), Bradley Birkenfeld, Scott Rosen, and Gene Ross jointly submitted a comprehensive 84-page comment on the IRS’s proposed rules for its whistleblower office (26 CFR Part 301 [Reg-141066-09])
Continue Reading IRS On Verge Of Crippling Whistleblower Program

The Internal Revenue Service Whistleblower Office announced that it paid a record $125.4 million in 2012 to whistleblowers that provided evidence of tax cheating, but new rule changes place future recoveries at risk. More than 80 percent of the total paid out by the IRS in 2012 went to Bradley Birkenfeld, a former employee of UBS AG who received $104 million.
Continue Reading IRS Whistleblowers Received Record Payouts in 2012, But Future Recoveries At Risk

As companies head into 2013 facing yet another year of increasing and complex compliance and ethics challenges, here’s a threshold question for the Board of Directors: Does your chief compliance officer have the empowerment, independence, seat at the table, line of sight, and resources to do the job?

Following is a “boardworthy” sample of big developments from 2012 that should give some boards and C-suites (and you know who you are) pause:
Continue Reading 2012’s 10 Big Moments for Chief Compliance Officers