The Swiss-Tax-Fraud Scheme

Bradley Birkenfeld approached the Justice Department in 2007 to unload what he knew about the Swiss-tax-fraud scheme. But when the U.S. government’s lawyers would not grant him immunity from prosecution, he took his information to U.S. Congress. When Bradley Birkenfeld returned to the United States to speak to those regulators, he was arrested. He served 31 months in prison. Bradley Birkenfeld’s unprecedented actions, brought $25 billion back to the U.S. Treasury. The IRS awarded $ 104 million to Bradley Birkenfeld who helped the U.S. government uncover a massive scheme in which Switzerland’s largest bank helped its clients in the U.S. to dodge taxes. The IRS payout program allows whistleblowers to collect up to 30 percent of the proceeds in cases where the amount in dispute totals more than $2 million.

Pattern Of Violating Laws, Greed, Recklessness & Hubris

Bradley Birkenfeld represented one of the world’s most powerful financial institutions in Switzerland, but the Swiss finance world has always provided the backdrop for many dramas and there are moments in the book, when the world appears to have gone mad. “Lucifer’s Banker UNCENSORED” is a fascinating read, and a vitally important one for anyone who wants to know more about the centuries-old clandestine practices of the elusive Swiss banking system. “Lucifer’s Banker UNCENSORED” provides an insider’s perspective on how Swiss finance world works, including well­documented pattern of violating laws, greed, recklessness and hubris.

Bradley Birkenfeld is an American private banker, and whistleblower. During the mid- to late-2000s, he made a series of disclosures about UBS Group AG clients, in violation of Swiss banking secrecy laws, to the U.S. government alleging possible tax evasion. Known as the 2007 “Birkenfeld Disclosure“, the U.S. Department of Justice (DOJ) announced it had reached a deferred prosecution agreement with UBS that resulted in a US$780 million fine and the release of previously privileged information on American tax evaders.

A whistleblower (also written as whistle-blower or whistle blower) is a person who exposes secretive information or activity within a private or public organization that is deemed illegal, unethical, or not correct. The information of alleged wrongdoing can be classified in many ways: violation of company policy/rules, law, regulation, or threat to public interest/national security, as well as fraud, and corruption. Those who become whistleblowers can choose to bring information or allegations to surface either internally or externally. Internally, a whistleblower can bring his/her accusations to the attention of other people within the accused organization such as an immediate supervisor. Externally, a whistleblower can bring allegations to light by contacting a third party outside of an accused organization such as the media, government, law enforcement, or those who are concerned. Whistleblowers, however, take the risk of facing stiff reprisal and retaliation from those who are accused or alleged of wrongdoing.

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• The Biggest Whistleblower in History

Bradley Birkenfeld will forever go down in history as the man who brought down the Swiss banking secrecy.

 

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