UBS Will Pay $780 Million As Charges For US Tax Evasion

The Department of Justice said late Wednesday that Swiss bank UBS AG agreed to pay $780 million in fines, penalties, interest and restitution over criminal charges it helped certain US taxpayers evade taxes. UBS also agreed to exit the business

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The Department of Justice said late Wednesday that Swiss bank UBS AG agreed to pay $780 million in fines, penalties, interest and restitution over criminal charges it helped certain US taxpayers evade taxes. UBS also agreed to exit the business of providing banking services to U.S. clients with undeclared accounts and to turn over the identities of US customers with such accounts.

D.C.

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