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UBS in Bordeaux Said to Have Been Raided in French Tax Probe

UBS AG’s office in Bordeaux was raided yesterday by French authorities investigating alleged assistance in tax evasion, according to a person with knowledge of the matter.

French investigators confiscated hard drives, documents and questioned employees, said the person, who asked not to be identified as the investigation is ongoing. Yesterday’s raid follows the searches of UBS offices in Strasbourg and Lyon last month, according to the person.

An unidentified executive in UBS’s French unit was charged last month in the tax investigation, Agnes Thibault-Lecuivre, a spokeswoman for the Paris prosecutors’ office, said on June 29. The charges were the first brought in the probe, which was opened in April after a preliminary inquiry by the French customs service into a February 2011 complaint by the Prudential Control Authority, France’s banking regulator.

UBS France is “fully cooperating with the French authorities,” Yves Kaufmann, a spokesman for Zurich-based UBS, said by phone. Thibault-Lecuivre didn’t immediately return calls for comment on the searches.

Agence France-Presse reported the raid on the Bordeaux office late yesterday.

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