Swiss Bank Slapped Over U.S.’s Biggest Tax-Evasion Case

[Martin Everson]

Lol....one American client accounted for up to 10% of the Swiss banks assets under management? They clearly did not take risk management seriously.

https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-09-17-2024/card/swiss-bank-slapped-over-u-s-s-biggest-tax-evasion-case-wrgNHhIy4Yk6wIl84Kmi

Mirabaud ‘Seriously’ Violated Financial Market Law, Finma Says

Mirabaud & Cie SA “seriously violated” Swiss financial-markets law by failing to properly vet client relationships and transactions for money-laundering risks, according to a ruling from the financial regulator unveiled for the first time.

www.bnnbloomberg.ca

 

[jafo]

I read both articles, but I will try to find the FINMA findings to read them...just for fun...

On the surface, this is the biggest BS I've ever seen. Had Brockman been living in the Bahamas, Monaco, or another zero-income-tax jurisdiction, NONE of this would have been "illegal" and illogically stretched to "money laundering."

This BS about conflating "tax evasion" with money laundering is a HUGE leap of acrobatics in divorced logic.

Anyway, the point is that Brockman should have moved to the Bahamas. What's the point of "wearing a Patek Philippe" on the wrist and living in a ghetto? Nothing good will EVER come out of that!

 

[uplana]

Waow impressive stupid mistake.

 

[jafo]

Lol....one American client accounted for up to 10% of the Swiss banks assets under management? They clearly did not take risk management seriously.

https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-09-17-2024/card/swiss-bank-slapped-over-u-s-s-biggest-tax-evasion-case-wrgNHhIy4Yk6wIl84Kmi

Mirabaud ‘Seriously’ Violated Financial Market Law, Finma Says

Mirabaud & Cie SA “seriously violated” Swiss financial-markets law by failing to properly vet client relationships and transactions for money-laundering risks, according to a ruling from the financial regulator unveiled for the first time.

www.bnnbloomberg.ca

A friend (a former college buddy who NEVER believed me about government rewards for snitching) sent me this:
They exposed a tax cheater. They’ll share a $74 million reward.

Poor guy was drinking himself into a coma. His heart was so broken! He was crying... This article has shattered his whole view of the US and exceptionalism.

PS. I wonder how much monetary reward the Brockman "snitches" got?