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Tue Sep 11, 2012, 12:00 PM

Jailed Banker Who Helped Crack UBS Gets $104 Million Payout

Source: Yahoo Finance

By Eamon Javers | CNBC – 1 hour 23 minutes ago

Attorneys for jailed former Swiss banker Bradley Birkenfeld announced Tuesday that the IRS will pay him $104 million as a whistleblower reward for information he turned over to the US government.
The information Birkenfeld revealed detailed the inner workings of the secretive private wealth management division of the Swiss bank UBS (UBS), where the American-born Birkenfeld helped his US clients evade taxes by hiding wealth overseas.

--snip--

Read more: http://finance.yahoo.com/news/jailed-banker-helped-crack-swiss-142921849.html



6 replies, 2525 views

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Reply Jailed Banker Who Helped Crack UBS Gets $104 Million Payout (Original post)
formercia Sep 2012 OP
1StrongBlackMan Sep 2012 #1
AnotherMcIntosh Sep 2012 #2
Vox Moi Sep 2012 #3
Nihil Sep 2012 #6
valerief Sep 2012 #4
Lucky Luciano Sep 2012 #5

Response to formercia (Original post)

Tue Sep 11, 2012, 12:15 PM

1. I think ...

If I were Mr. Birkenfeld ... I would spend the rest of my life on the single purpose of helping my former associates experience the prison challenge that they so generously allowed me to experience.

And I'd have $104 million dollars to help me.

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Response to formercia (Original post)


Response to formercia (Original post)

Tue Sep 11, 2012, 12:31 PM

3. So, the whistleblower gets his reward but so did the tax cheats.

The tax cheats got both amnesty and anonymity.
The IRS amnesty program might have been a practical necessity (maybe) but why keep the list secret?
If We The People are going to forgive people who commit a crime don't we at least get to know who we are forgiving?
Amnesty, offered to anonymous persons, isn't justice. It's a cover.

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Response to Vox Moi (Reply #3)

Wed Sep 12, 2012, 06:14 AM

6. Too many "deciders" on the list to publicise it ...

It would not only put the lie to why there is so much emphasis on "Looking forward not back"
but would directly impact far too many of the people that administrations consider important.

> Amnesty, offered to anonymous persons, isn't justice. It's a cover.

Ding! *That* is the right answer!

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Response to formercia (Original post)

Tue Sep 11, 2012, 12:31 PM

4. I hope he has no plans to fly any small planes soon. nt

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Response to valerief (Reply #4)

Tue Sep 11, 2012, 06:55 PM

5. Yep. He will need to invest a lot in a private security detail.

...hire food tasters, bodyguards, change his name, etc.

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