In 2012, Bradley Birkenfeld made history when he obtained the largest whistleblower reward ever given to an individual whistleblower in the twenty-five year history of federal qui tam or whistleblower reward laws, for reporting IRS Tax Fraud.
Continue Reading UBS Whistleblower Gives Behind the Scenes Look into Swiss Bank Secrecy
April 18, 2016. Today is “Tax Day,” when millions of Americans honestly pay their fair share of taxes. Today is also a day we all owe thanks to the whistleblowers who forced over 54,000 American tax cheats who held illegal accounts in Switzerland to plead guilty to their crimes and pay their back taxes and penalties.
These prosecutions, both civil and criminal, have also resulted in major Swiss banks going bankrupt, others pleading guilty to crimes and paying billions in penalties. All told, as of today over $13.769 billion has been collected from the Swiss banking cheats, and billions more will be recovered as the prosecutions continue.
Here is the story.
Continue Reading 13.769 Billion Reasons to Thank Whistleblowers on Tax Day
This past Saturday, February 20, 2016, Le Parisien/Aujourd’hui en France revealed the contents of an internal UBS memo that discussed “navigating below the radar screen” to grow its business by enticing French clients to hide their money in Swiss bank accounts. The memo indicates that “UBS was perfectly aware of the risk” of its illegal practices.
Continue Reading Sounding the Alarm: U.S. Whistleblower’s Involvement in French UBS Investigation
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
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
Ex-UBS Banker Pleads Not Guilty in US Tax Case
Continue Reading Tax Fraud Kingpin Pleads Not Guilty
Federal Court Hearing Scheduled for UBS Tax Fraud Kingpin Raoul Weil
Continue Reading Federal Court Hearing Scheduled for UBS Tax Fraud Kingpin Raoul Weil
Kohn warned that the Justice Department may give Weil a sweetheart deal that could cost U.S. taxpayers billions of dollars, and set back international efforts to curb corruption.
Continue Reading NWC Fears UBS Banker Raoul Weil Will Get Sweetheart Deal
On January 6, 2013 The Urban-Brookings Tax Policy Center was announced as the 2012 Tax Notes Person of the Year. Tax Notes also recognized nine others who were “contenders” for the title. Among the contenders was the National Whistleblower Center’s Senior Policy Analyst, Dean Zerbe.
Continue Reading Dean Zerbe Honored As Contender for 2012 Tax Notes Person of the Year