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UBS AG (UBSG.S) has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling subprime mortgage securities that contributed to the ...
The Swiss bank agreed to pay a civil penalty over how it handled the sale of 40 mortgage-backed securities issued in 2006 and 2007. ... UBS will pay U.S. authorities $1.44 billion to settle the ...
UBS agreed to pay $1.44 billion in penalties to settle allegations of fraud in the sale of residential mortgage-backed securities, the Department of Justice announced on Monday, resolving a case ...
The addition of the Interhandel capital, which propelled UBS into the top spot among Swiss banks in 1968, also made UBS one of the strongest banks in Europe and helped fuel the bank's further expansion in the late 1960s and 1970s. [27] UBS consolidated four affiliated mortgage lenders and assumed their domestic retail operations.
[20] [24] During the 1920s depression, net profits and dividends were halved and employees took salary cuts. [25] After World War II, a substantial portion of Credit Suisse's business was in foreign reconstruction efforts. [25] Banks subsequently acquired by Credit Suisse have been linked to bank accounts used by members of the NSDAP in the 1930s.
In 2016, Union Bancaire Privée was ordered to pay Internal Revenue Service $187 million USD in penalties for conspiring with U.S. taxpayers to evade taxation, through the use of fraudulent services and transactions in order mask the ownership of foreign-owned accounts and assets.
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The Justice Department announced on Monday that UBS has agreed to pay $1.4 billion in penalties for allegedly defrauding investors by selling mortgage-backed securities that blew up during the ...