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UBS is Naming Names (Finally)

300px-Toblerone-1.jpgIn what probably amounts to UBS caving out of pure exhaustion from the nagging of U.S. Tax authorities, the Swiss Bank reached an agreement in which it will turn over names of wealthy clients. The Wall St. Journal is reporting that it could be between 8,000 and 10,000 names which will likely get UBS on the list at Hop Sing’s with Ned Isakoff.
More, after the jump


The whole sitch has caused many to confess their offshore banking sins and may make for more begrudgingly honest reporting of offshore accounts in the future but we hope that in hindsight, future Swiss negotiators see the wisdom of considering the undying power of the cocoa bean.
UBS Tax Lawsuit Settled by U.S., Swiss Governments [Bloomberg]
UPDATE: Read more at our sister site, Dealbreaker.

One Wouldn’t Think You’d Have to Be Wary of a Tax Prep Business Called “420 Multiservices”

In the Bronx, no less.

According to an indictment unsealed Tuesday in Manhattan federal court, Charles prepared tax returns at a tax preparation business called “420 Multiservices” in Bronx, N.Y., in 2006. Between 2006 and 2007, Charles, 34, Patterson, 29, Nekiya Edwards, 32, and Akmell Edwards, 33, engaged in a scheme to use stolen and other identification information, including names, dates of birth, and Social Security numbers, to file fraudulent tax returns.

[…]

According to the indictment, in March 2008, Patterson was approached by agents of the IRS-CID. During that encounter, Patterson threatened the agents, stating, among other things, “I know you guys got guns, so what,” and “That’s why I kill guys like you.”

Bronx Group Charged in Tax Refund Scheme and Threatening IRS Agents [AT]