Steven Michael Rubinstein, the Art Basel-going yacht builder’s accountant from Boca Raton who last week became first American prosecuted in a sweeping probe of tax shelters since the Swiss government ordered the bank to hand over the names of some 300 of its clients to the IRS, was released today on $12 million bail, the latest development in the intensifying probe of tax shelters. But not everyone involved in the investigation of what UBS itself called a “scheme to defraud the American government” is enjoying freedom of movement: also today the Wall Street Journal reports the bank has barred its “client facing” bankers from traveling overseas — a move “aimed at avoiding further trouble” of the sort UBS bankers like Brad Birkenfeld flirted in the good old days before the crackdown:
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=144009