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IRS fighting UBS on bank secrecy
The UBS logo hangs outside of a bank branch in Geneva, Switzerland.
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TEXT OF STORY
Bill Radke: Swiss banking colossus UBS lost its CEO last week, and now its chairman is on the way out. Peter Kurer says he'll step down in April at the end of his one-year term. UBS shares have fallen by a third this year, and the bank took a government bailout last fall.
UBS is also embroiled in a fight with U.S. tax officials. The IRS accuses the bank of helping rich Americans skip out on their taxes. Today, a Senate committee holds a hearing on those famous "unnamed Swiss bank accounts." Marketplace's Mitchell Hartman reports.
Mitchell Hartman: U.S. authorities are suing UBS. They want financial data on as many as 52,000 Americans who are allegedly using secret Swiss accounts to avoid income tax. Sponsors of a law to crack the code of international bank secrecy say we lose a hundred billion a year to this kind of fraud.
Bob McIntyre: It's about 5 percent of the income tax revenues that we collect now.
That's Bob McIntyre of Citizens for Tax Justice. His group wants the IRS to increase staffing and hunt down these tax cheats.
McIntyre: In terms of the bank for the buck, for every IRS agent you had working on this, paying them $100,000 or whatever it costs, you'd probably collect 50 times as much, because there's so much money out there.
But defenders of Switzerland's long tradition of bank secrecy say not everyone who has an account with them is dodging the tax man. They say that many depositors have legitimate privacy concerns, and shouldn't be exposed to a global scavenger hunt for hidden wealth by the IRS.
I'm Mitchell Hartman for Marketplace.
WEST YORKSHIRE POLICE.
We note that Det. Chief Inspector Steven Taylor has been removed as the Head of Economic Crime Unit and demoted to Det. Inspector. ( One down two to go).
A file of some 339 pages including scores of documentation as been forwarded to the following from Aug.4th to Aug.6th. 2011.
640 --- Members of Parliament.
460 --- Members of the House of Lords.
Ministry of Justice
F.S.A --- Financial Services Authority
Serious Fraud Office.
Peters & Peters. London. --- Solicitors.
Pictet & Cie. Bank ---- London & Geneva.
West Yorkshire Police Authority.
I.P.C.C. – Independent Police Complaints Commission.
C.C.R.C.—Criminal Cases Review Commission.
Swiss Ambassador London.
*** Were currently waiting to see if the West Yorkshire Police :-
(1) Chief Constable. --- Sir Norman Bettison.
(2) Forces Solicitor . -- Mike Percival .
(3) Head Of Economic Crime Unit. -- Det . Chief Inspector Steven Taylor.
continue to attempt to cover this case up like their F.S.A. counterparts. If they do –“ then watch this space.â€
We were informed that due to pressure from our M.P. that the Ministry of Justice have asked Lord Myners to investigate our claims that the F.S.A. covered up the illegal activities of Pictet Asset Management. London.
It has been noted that the book launch for PICTET was held at Lord Myners Belgravia home.We might as well have asked Ivan Pictet to investigate our complaint.-or someone from FRIENDS RE-UNITED.
Lady Myners on Prix PICTET advisory board.
The consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.
Their Solicitors at Peters & Peters .London “ struck off and prosecuted..â€
In America ---- they would have all been in prison for the last seven years.
Update .Sept 19 th .2010.
PARTNERS IN CRIMES.
Pictet & Cie Bank.
Ivan Pictet.
Nicolas Pictet.
Charles Pictet.
Jacques de Saussure.
Jean – Francois Demole.
Renaud de Planta.
Philippe Bertherat..
Pictet & Cie.- claim they are the “Rolls Royceâ€of swiss banks.
Swiss Banks or more correctly Swizz banks.
Swizz. ---- “ a great disappointment.†or a “ fraud.â€
Fraud. ---“ an intentional deception or dishonesty.â€â€” “a crime.â€
Crime. ---“ an act committed or omitted in violation of a law.â€
Serious Crimes .
Conspiring to pervert the Course of Justice.
Perverting the Course of Justice.
Contempt of Court.
Pictet & Cie.
Pictet & Cie Bank –Partners –(1996—2010)-liable.
Peters &Peters – Partners.—(1999----2010)-liable.
The bank and it’s officials/lawyers deliberately withheld crucial documents requested under a High Court order. The bank and it’s officials/lawyers deliberately withheld evidence from the Police, and one of it’s account managers Susan Broadhead gave a false witness statement .
Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.) sought to have numerous documents destroyed,along with those copies held in their London office’s of Pictet Asset Management. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael –and the barrister Charles Flint.Q.C. later had to admit in Court that the documents were genuine.
British Parliament. Hansard .29th March 2007.
Barry Sheerman .M.P.—quote.
---------“ Constituents of mine have lost £2 million through fraud . The fraudster used Pictet & Cie - - a French Bank - - and Pictet Asset Management to back the fraud being perpetrated.â€â€
(1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.)
(2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted .
(3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery .
(4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael).
(5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation .
(6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention.
(7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A.
In the F.S.A. cover up , they concluded that there had been “ Rogue†elements in Pictet & Cie’s , London operations . They had been moved from their London Office so who was there left to prosecute. “ Unbelievable.â€
On Dec 9th,2008. the complaint was sent to 150 Members of the House Of Lords and 230 Members of Parliament.
*** We thank --David Cameron. M.P. ( Canary Wharf Speech.) Dec. 15th. 2008.
*** --Now ---- The Prime Minister.
(1) Bankers who behave irresponsibly should face professional consequences.
(2) If anyone is found to have behaved criminally they must be prosecuted.
(3) The F.S.A and the Serious Fraud Office should be following up every lead, and
investigating every suspect transaction .
(4) We need to make it 100% clear –those who break the law should face prosecution.
(5) That we make sure we root out any wrongdoing that may have happened, whoever is
involved, however high or well connected they may be.
The ‘Doyens’ of the establishment.’ ( Ivan Pictet and Monty Raphael.)
Ivan Pictet.
Managing partner in Pictet & Cie Bank . --- retiring -. 2010.?
President of the Geneva Financial Centre. – stepping down. 2010.?
World Bank.committee member.
United Nations. Investment Committee member,
Vice President – Global Humanitarian Forum. --- redundant.2010.?
Member of the Henokiens.
Blackstone Group --- Board Member.
Past- President – Geneva Private Bankers association.
Past –President – Geneva Chamber of Commerce and Industry.
Monty Raphael. ( Peters & Peters.)
Quote.†---- Doyen of U.K. Fraud lawyers.
Head of Fraud and Regulatory Dept. --- stepping down.?.
Member of the Law Society of England & Wales.
International Bar Association Member.
Director of Fraud Advisory Panel.
Written Parliamentary Questions received by the table office ..
(1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.
(2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.
On Dec 9th,2008. the complaint was sent to 150 Members of the House Of Lords and 230 Members of Parliament.
On Aug 19th.2009.another complainants file regarding the “cover up†was forwarded to the same 380 members.
We started our campaign in June 2008 -- via the “net†to highlight our fight to get “justiceâ€. In our second year campaign we hoped to reveal further damning evidence . Due to there being an on going Police investigation into our complaint we are at this moment unable to place dozens of documents on to the “netâ€. Again we thank other “ E- Mailers†for their information in relation to our campaign.
Quote. ( America’s Top Lawyer .)
You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth.
***The Truth hurts.--
• Ivan Pictet. Announces stepping down from Pictet & Cie. 5th Feb 2010.
June 2010 – stepping down as president. Geneva. Fin. Centre.
• Monty Raphael. Steps down as head . May. 2009.
*** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.
*** Were currently waiting to see if the Police and other Law Enforcement Bodies attempt to cover this case up like their F.S.A. counterparts. If they do –“ then watch this space.â€
We have recently been informed that due to pressure from our M.P. that the Ministry of Justice have asked Lord Myners to investigate our claims that the F.S.A. covered up the illegal activities of Pictet Asset Management. London.
The consensus of opinion is the Pictet & Cie should be prosecuted , and that their banking licence’s should be taken away in the U.K. ( and fined.)
Their solicitors at Peters & Peters --- prosecuted and struck off.
Our Campaign’s Second Year Anniversary this week .
Started June 6 th 2008. ( almost 2 million E-Mail in two years.)
Still no injunctions - - -no writs - - - ( they can’t go to Court - - - - it’s all true.)
*** the Bigger they are - - - - the harder they fall.!!!
In America - - they would have all been in prison for the last seven years.
Full Story.
Go to search box on “Google†and insert ( Ivan Pictet / Monty Raphael) ) - - then try –(Pictet& Cie/MontyRaphael on “Yahooâ€.
Or try on Yahoo. - - - ( Charles Flint Q.C.) and (Nicholas Campiche.)
Hey, why don't the Senators ask their old colleague Phil Gramm to help. Doesn't he sit on the board of UBS?
Here is what Slate said:(http://www.slate.com/id/2194933/)
Since 2002, Gramm has been an executive with the U.S. operations of UBS, the giant Swiss Bank. An unintentionally hilarious interview with Gramm on the Wall Street Journal editorial page last week asserted that Gramm has "been a key instigator of some of the biggest money-making UBS deals of recent years."
