{"id":7721,"date":"2019-02-20T13:48:56","date_gmt":"2019-02-20T13:48:56","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/ubs-fined-e3-7bn-in-tax-fraud-case\/"},"modified":"2019-02-20T13:48:56","modified_gmt":"2019-02-20T13:48:56","slug":"ubs-fined-e3-7bn-in-tax-fraud-case","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/ubs-fined-e3-7bn-in-tax-fraud-case\/","title":{"rendered":"UBS fined \u20ac3.7bn in tax fraud case"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"UBS sign\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/4263\/production\/_88459961_88459960.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Swiss banking giant UBS has been fined \u20ac3.7bn (\u00a33.2bn; $4.2bn) in a French tax fraud case.<\/p>\n<p>A court in Paris found that the bank had illegally helped French clients hide billions of euros from French tax authorities between 2004 and 2012.<\/p>\n<p>UBS has denied any wrongdoing and a lawyer representing the firm said it would appeal against the ruling. <\/p>\n<p>Following similar cases in the US in 2009 and Germany in 2014, the bank accepted multi-million pound fines. <\/p>\n<p>The penalties include a \u20ac3.7bn fine as well as  damages of \u20ac800m payable to the French state.<\/p>\n<p>The bank has set aside $2.46bn to cover potential losses from litigation and regulatory requirements.<\/p>\n<p>French prosecutors said UBS was &#8220;systematic&#8221; in its support to tax-evading customers and that the laundering of proceeds from the tax fraud was done on an &#8220;industrial&#8221; scale.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-47305227\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Swiss banking giant UBS has been fined \u20ac3.7bn (\u00a33.2bn; $4.2bn) in a French tax fraud case. A court in Paris found that the bank had illegally helped French clients hide billions of euros from French tax authorities between 2004 and 2012. UBS has denied any wrongdoing and a lawyer representing the &hellip; <\/p>\n","protected":false},"author":0,"featured_media":7722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7721"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7722"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}