A French court on Wednesday found Swiss bank UBS AG guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion, and ordered it to pay 4.5 billion euros ($5.10 billion) in penalties. Shares in UBS fell 2 percent. A lawyer for UBS said the bank would appeal the ruling. The penalties, […]

The New York-based dealer Mary Boone plead guilty to two counts of tax fraud after falsifying 2011 returns to hide her use of $1.6m in gallery profits to upgrade her Manhattan home. She agreed to pay more than $3m in restitution to the IRS; the amount represents the additional tax due as a result of […]

Two of France’s best-paid soccer players, Argentine attackers Javier Pastore and Angel di Maria, are being investigated on suspicion of money laundering, according to people familiar with the matter. Their homes were raided early Tuesday after a team from France’s National Financial Prosecutors’ office started their investigation following the publication of their contracts by investigative […]

A former French budget minister [Jerome Cahuzac] went on trial Monday accused of hiding his wealth in tax havens around the world — while at the same time leading the government’s fight against tax evasion. JEROME CAHUZAC appeared in a Paris court on charges of tax fraud and money laundering that saw him resign in […]

Barcelona superstar Lionel Messi has been given a 21-month jail sentence for tax evasion – but is unlikely to go to prison. Messi and his father, Jorge, have received the same sentence but under Spanish law a prison sentence under two years for a first-time non-violent crime can be served on probation, meaning they are […]

Assad’s uncle under investigation in France – source | Reuters A French judge has placed an uncle of Syrian President Bashar al-Assad under formal investigation on suspicion of tax fraud and money-laundering, a source close to the case said on Tuesday. Suspected of having acquired his wealth in France illegally, Rifaat al-Assad, a political opponent […]

The Madrid branch of Chinese bank ICBC received cash in rucksacks and boxes from Chinese criminal groups in Spain and wired the money to accounts in China under a $100-million money-laundering scheme, Spanish prosecutors say. Details of the allegations against ICBC are made public for the first time in a court document summarising an investigation […]

UK regulators received a tip-off that the London unit of Swiss bank BSI was helping clients hide wealth offshore years before US prosecutors exposed its role in “massive” tax fraud, a Financial Times investigation has found. The Financial Services Authority, as it was then known, and HM Revenue & Customs, the tax authority, told the […]