UBS Told by Federal Judge to Give IRS Data on Wegelin
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A U.S. judge said the Internal Revenue Service can demand information from UBS AG about U.S. clients of Wegelin & Co., the Swiss bank that pleaded guilty this month to conspiring to help cheat the IRS.
U.S. District Judge William H. Pauley III signed an order in Manhattan federal court that authorized the IRS to serve a summons on UBS, the largest Swiss bank. The tax agency seeks records of Wegelin’s correspondent account at UBS, according to the Jan. 25 order announced yesterday.