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In 2009, a Swiss bank UBS reached an agreement with the US to pay USD 780 mil. in taxes, % and penalties. Let's read the publicly available agreement. Brought to the IRS by a former UBS employee.
What do they have to pay for?
According to the US Department of Justice (DOJ) report, USD 780 million was a payment for the bank's 2000-2007 'business', in which it helped some 17 000 US citizens open accounts with the bank on behalf of 'unrelated' offshore companies. Citizens took out credit cards on these companies and spent the funds they had accumula…
