'It’s not a U.S. issue, it’s not a French issue, it’s a global issue. UBS is the problem', Bradley Birkenfeld said in an interview the day after testifying in a French investigation into similar allegations against UBS. 'They’ve been doing it in every market: the Greek market, the Spanish market, the Italian market, the Scandinavian market, the German - I can go on and on, you get the picture',
Bloomberg News reports that the French charged UBS last year with laundering the proceeds of tax fraud and ordered the bank to pay $1.2bn to cover a potential penalty should the criminal probe result in a guilty finding.
The judge leading the probe asked Birkenfeld to come to Paris to testify as a witness, according to a U.S. court decision authorizing the trip.
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