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Old 04.01.2013, 19:50
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Re: Swiss bank Wegelin fights US summons

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I would guess the reason for settling like this is described in some confidential clauses in the settlement agreement; for example, protection from prosecution (this is an example, I assume no such clauses exist).
Well, UBS paid their fine and got the charges dropped as part of the agreement so unless there's something else we don't know I would have thought they could do the same. However, according to the article they deliberately went after the clients that other Swiss banks had been dropping or refusing because of possible tax evasion so maybe the US wouldn't cut a deal because of that.
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