Just how dangerous is the continued fraud within the banking system? Get prepared for a mind-bowing expose by a former insider at UBS.
Brad Birkenfield, writer of Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy, recounts the efforts he uncovered by his employer to assist its shoppers cheat the US authorities out of tens of $billions in taxes.
But regardless of his working with the federal government intently to show the large conspiracy between US-based tax cheats and the enormous Swiss financial institution, UBS, the so-called Justice Department went after Mr. Birkenfeld for abetting tax evasion by considered one of his shoppers. After spending thirty months in Federal jail, he was launched and three weeks later, acquired a whistle-blower verify for $104 million, the most important such verify ever from the IRS Whistle-blower Office.
Once once more, 300,000,000 Americans-plus obtained screwed by the corrupt Department of Justice. They’re not about justice, they’re about defending themselves, making an attempt to take credit score, and making everybody else take heed to what they are saying the story is.
We keep in mind the monetary disaster of 2008. It was devastating and so many individuals misplaced their jobs, misplaced their houses and so forth. In the complete monetary disaster, there was not one banker to go to jail. The solely banker to go to jail was the united stateswhistleblower who uncovered the most important and longest operating tax fraud on the planet.
Here’s the issue with the system. When you nice UBS it’s essential to understand UBS is a Swiss financial institution, so meaning they write off the wonderful on their taxes. So then, meaning the Swiss taxpayers carry the burden. That’s the very first thing.
The second factor is go take a look at the hundreds of thousands and tens of millions of dollars in authorized charges spent to defend their conduct. The UBS shareholders decide up that tab.
So you could have UBS shareholders and Swiss residents choosing up the tab for bankers who simply maintain doing their enterprise, and stroll away untouched. How is that this potential?
And third, the US authorities has set an extremely dangerous precedent and 0 deterrence. Because what they’re saying is, “Oh, if you get caught again, you just write a check. Yes, you might have to add $5 million or $10 million to that check, but just keep doing the business you’re doing.”
And the pathetic prosecutors on the Department of Justice say, “Oh, see? We’ve got a check and we can put it on our resume saying, ‘We got $200 million from this bank for doing illegal conduct.’”
Yeah, however you screwed the American individuals. It’s outrageous.
Click the play button under to take heed to Chris’ interview with Brad Birkenfeld (45m:31s).
SOURCE: – Read whole story here.