Asia Sentinel, 24 Feb 2009, Alice Poon
A regal brand name and an esoteric image are no guarantee for corporate governance quality, as the UBS tax evasion scandal and other unflattering news stories surrounding the once crown jewel of world-class financiers suggest.
As reported in the New York Times article:
"UBS, the largest bank in Switzerland, agreed on Wednesday to divulge the names of well-heeled Americans whom the authorities suspect of using offshore accounts at the bank to evade taxes. The bank admitted conspiring to defraud the Internal Revenue Service and agreed to pay $780 million to settle a sweeping federal investigation into its activities.
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