LAWSUITS NEWS & LEGAL INFORMATION
$104M Awarded to Whistleblower in UBS Tax Evasion Case
This is a settlement for the Whistleblower lawsuit.
New York, NY: A $104 million award has been granted to former UBS banker Bradley Birkenfeld by the US Government under the IRS whistleblower program. The massive award is for information Birkenfeld provided that led to the recovery of $780 million in penalties from UBS Bank by the IRS.
Birkenfeld' tips helped the IRS reach a settlement in 2009 with UBS which involved the bank turning over account information on thousands of US clients who were being investigated for tax evasion.
Over 35,000 Americans have since participated in amnesty programs to repatriate their offshore accounts, netting the government over $5 billion in back taxes, fines and penalties, Birkenfeld's lawyers said in a statement Tuesday.
Published on Sep-12-12
Birkenfeld' tips helped the IRS reach a settlement in 2009 with UBS which involved the bank turning over account information on thousands of US clients who were being investigated for tax evasion.
Over 35,000 Americans have since participated in amnesty programs to repatriate their offshore accounts, netting the government over $5 billion in back taxes, fines and penalties, Birkenfeld's lawyers said in a statement Tuesday.
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