The Swiss banking giant UBS goes on trial to face accusations it orchestrated a huge tax fraud scheme for wealthy French clients, with potential fines of billions of euros. The inquiry was opened after a former employee alerted authorities over the bank’s alleged system of setting up dual bookkeeping to hide the movement of capital into Switzerland. France’s national financial crimes unit estimates at least 9.76 billion euros ($11.2 billion) was not reported to the French tax authorities.
https://au.news.yahoo.com/swiss-bank-ubs-trial-france-over-tax-fraud-084320252–spt.html
