Skip to content

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Julius Baer pays $547 million for U.S. tax scam, two bankers plead guilty

Two former Julius Baer bankers pleaded guilty Thursday and the Swiss bank paid $547 million to settle a criminal case for helping clients cheat on their U.S. taxes.

Daniela Casadei, a Swiss citizen, and Fabio Frazzetto, and Italian, each pleaded guilty in Manhattan federal court to conspiracy to defraud the IRS, to evade federal income taxes, and to file false federal income tax returns. … Continue Reading

FIFA: The curiously bribe-free corruption case

FIFA president Sepp BlatterThe FIFA scandal involves the illicit paying and receiving of monies in relation to marketing rights, elections, and host country bids. And though both the U.S. and Switzerland have now begun formal criminal proceedings, with 15 total defendants and myriad criminal counts, there are absolutely no bribery charges.… Continue Reading

Compliance department errors cost UBS $1.7 million in OFAC fines

Zurich-based UBS AG agreed to pay just over $1.7 million to resolve civil allegations that it processed 222 transactions for a client that apparently violated U.S. anti-terrorism sanctions.

“Multiple business lines and personnel within UBS, including supervisory and management staff within the bank’s compliance department, had actual knowledge of the conduct that led to the apparent violations,” the U.S.… Continue Reading