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Clinton Helped A Swiss Bank/Donor Get Out Of IRS Tax Fraud Charges

- October 11, 2015

Months After Clinton Became Secretary Of State, She Announced A Legal Settlement Between UBS And The IRS In Which The Swiss Bank Turned Over 4,450 Secret American Account Rather Than The 52,000 Sought By The IRS. “A few weeks after Hillary Clinton was sworn in as secretary of state in early 2009, she was summoned to Geneva by her Swiss counterpart to discuss an urgent matter. The Internal Revenue Service was suing UBS AG to get the identities of Americans with secret accounts. If the case proceeded, Switzerland’s largest bank would face an impossible choice: Violate Swiss secrecy laws by handing over the names, or refuse and face criminal charges in U.S. federal court. Within months, Mrs. Clinton announced a tentative legal settlement—an unusual intervention by the top U.S. diplomat. UBS ultimately turned over information on 4,450 accounts, a fraction of the 52,000 sought by the IRS, an outcome that drew criticism from some lawmakers who wanted a more extensive crackdown.” (James V. Grimaldi and Rebecca Ballhaus, “UBS Deal Shows Clinton’s Complicated Ties,” The Wall Street Journal, 7/30/15)

Following The Deal, UBS Upped Its Engagement With The Clinton Foundation, Where Donations “Grew From Less Than $60,000 Through 2008 To A Cumulative Total Of About $600,000 By The End Of 2014.”  “From that point on, UBS’s engagement with the Clinton family’s charitable organization increased. Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according to the foundation and the bank.” (James V. Grimaldi and Rebecca Ballhaus, “UBS Deal Shows Clinton’s Complicated Ties,” The Wall Street Journal, 7/30/15)

UBS Coordinated With The Clinton Foundation To Launch An Entrepreneurship Program And Paid Bill Clinton $1.5 Million To Participate In A Series Of Q & A Sessions For The Bank. “The bank also joined the Clinton Foundation to launch entrepreneurship and inner-city loan programs, through which it lent $32 million. And it paid former president Bill Clinton $1.5 million to participate in a series of question-and-answer sessions with UBS Wealth Management Chief Executive Bob McCann, making UBS his biggest single corporate source of speech income disclosed since he left the White House.” (James V. Grimaldi and Rebecca Ballhaus, “UBS Deal Shows Clinton’s Complicated Ties,” The Wall Street Journal, 7/30/15)


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