UBS Tax Evasion Network in Latin America Revealed
Paris, Jun 18 (Prensa Latina) The Union Bank of Switzerland (UBS) had a network with intermediaries for Latin American countries who help launder money and evade taxes, it was learned here on Thursday.
The revelation was made in this capital by former UBS Director Stephanie Gibaud, who met here with members of a bicameral committee of the Argentinean Congress who are investigating 4,040 secret bank accounts in the Swiss branch of HSBC.
Gibaud noted that the Latin American network, which included Argentina, consisted of about 30 people.
Although UBS does not have a branch in Argentina, the institution has a network of unidentified intermediaries with the bank who arrive in the country as tourists, with clean phones, and attend events and banquets to attract clients, she explained.
She added that there is an office of that South American country in Geneva to do that work.
Gibaud, who left the bank in 2012, did not elaborate on the number of accounts that might be contained in the information she has, although she stressed that she is willing to share it with Argentina.
The head of the Federal Administration of Public Incomes (AFIP), Ricardo Echegaray, who is accompanying the lawmakers, met on Wednesday in Switzerland with Michel Platini, president of the European Union of Football Associations, to discuss the corruption scandal known as Fifagate.
At least three Argentinean entrepreneurs are involved in such a scandal and the investigation opened by US justice.
During the meeting, Echegaray explained the actions being taken by the AFIP to fight tax evasion in football.
Platini, in turn, committed himself to providing all the information held by his confederation in order to make the market of players’ transference transparent.
The Argentinean lawmakers will meet in Paris on Thursday with Herve Falciani, former computer expert at the Swiss branch of HSBC, who provided a list of more than 100,000 names from all over the world who are suspects of being involved in flight of capital, money laundering and tax evasion.
Argentina demands the repatriation of 3.5 billion dollars found in the information provided by Falciani, which might have been taken out of the country through clandestine channels to that branch of HSBC.
