Wednesday, August 19, 2009

The Justice Department has a victory.

One has to wonder if the Madoff empire has monies there. According to estimates reported in the International Herald Tribune (click here) the accounts hold upwards of $18 billion.
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...Switzerland's largest bank (click title to entry - thank you), UBS AG, is set to give the U.S. government information on 4,450 accounts suspected of hiding money from the IRS. In June, the U.S. and Swiss governments came to an information-sharing agreement after a six month battle over how much the bank would divulge. The Swiss government says it will fulfill a request for the information within a year....