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February 19, 2009

UBS to Disclose Americans Holding Offshore Accounts
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The Swiss banking giant UBS has agreed to release the names of wealthy
American account holders believed to be using offshore accounts to avoid
paying taxes. The agreement came as part of a $780 million fraud
settlement with the IRS. Prosecutors say UBS helped wealthy American
clients hide at least $1.5 billion in taxes from 2002 to 2007.



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