UBS Accuses French Whistle-Blowers of Lying, Blackmail
- Executive says whistle-blowing triggered internal probe
- De Leusse said internal investigation came up with ‘nothing’
Photographer: Eric Piermont/AFP via Getty Images
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Top executives at UBS Group AG’s French unit took aim at the whistle-blowers who helped trigger probes into allegations its Swiss parent conspired to encourage rich clients to evade taxes, saying one had “lied” and accusing the rest of “blackmail.”
Hervé Mercier-Ythier, director general at UBS France, said one former employee, Stephanie Gibaud, was “totally incorrect” when she told investigators that her files on events she organized for wealthy clients were deleted or modified while she was on holiday. The testimony came during the third week of a trial over allegations that UBS bankers illegally encouraged French citizens to lower their tax bills by moving money out of the country.