Corporate Prosecution: Double Standard or Government Weakness

In an interesting article in The New York Times, dated today, writer Jesse Eisinger discusses the Justice Department’s recent efforts to prosecute wrongdoing by large banks.  Specifically, Credit Suisse and BNP Paribas have been charged criminally with violations of federal criminal statutes.  While no large American banks or bankers have been charged since the financial […]

UBS and Justice Department Reach Deferred Prosecution Agreement in Massive Tax Fraud

UBS, the world’s largest private bank has reached a deferred prosecution agreement with the U.S. Department of Justice. The agreement requires UBS to pay $780 million to settle charges that it helped wealthy Americans evade payment of taxes. The agreement pierces Swiss secrecy laws as it requires the bank to turn over the the U.S. […]