Clinton helped the IRS and UBS settle a tax evasion case in 2009 as secretary of state, and since then donations by UBS to the Clinton Foundation have grown
Hillary Clinton’s overlap of private and political activities was once again in the spotlight on Thursday after a Wall Street Journal report that since Clinton helped broker a settlement in a legal tax case against UBS while she was secretary of state, the Swiss bank has increased its financial support and involvement in Clinton Foundation projects.
In February 2009, the IRS sued UBS and demanded that it disclose the names of 52,000 possible American tax evaders with secret Swiss bank accounts. In the months that followed – thanks to involvement of Clinton as secretary of state and Swiss lawmakers – a legal settlement was negotiated. On 19 August 2009, it was announced that UBS would pay no fine and would provide the IRS with information about 4,450 accounts within a year.
Source: The Guardian Circular Economy RSS