Swiss Bank Agrees To Settle Charges
ARI SHAPIRO, host:
NPR's business news starts with a deal that could reveal some Swiss banking secrets.
The Swiss bank UBS has struck a deal in a Florida federal court to settle a tax probe from the US government. UBS will pay $780 million. And here's the juicy part: They'll disclose the names of Americans who hold secret accounts with the bank. It's part of a deal to resolve criminal fraud charges against Switzerland's largest bank. The US Justice Department says UBS helped 17,000 wealthy Americans evade taxes by concealing their accounts, with a total of around $20 billion in assets.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.