Friday, August 21, 2009

US Indicts ex-UBS Banker and Swiss Lawyer

The US has indicted Hansruedi Schumacher, a former UBS banker, who used to run the bank’s offshore business. According to the indictment, he helped clients set up shell companies to fool US authorities. A Swiss lawyer, Matthias Rickenbach, was also charged with providing legal advice for the scheme.

Of course, when the government uses front companies and Swiss bank accounts it's okay.

Oliver North used shell companies and Swiss bank accounts as part of his Iran-Contra operations. A contract hit man, employed by the government, once told me that he was paid through a Swiss bank account.

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