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The Roots of Swiss Banking and the UBS Case


In Switzerland, tax evasion is not a crime, but it is a crime to break tax secrecy. In fact, one Swiss bank employee who discovered that his employer was burning the records of Jewish clients who were Holocaust victims had to seek political asylum in the U.S.

The bank: UBS.

Just one tidbit from a comprehensive Guardian article on why Switzerland is public enemy #1 in the tax haven world.

http://www.guardian.co.uk/business/2009/feb/05/tax-gap-avoidance-switzerland

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Kenneth Thomas

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