US authorities have awarded former UBS banker Bradley Birkenfeld a $104 million reward for blowing the whistle on the Swiss bank’s tax fraud, a whistleblowers group said Tuesday.
“This is believed to be the largest reward ever given to an individual whistleblower in the United States and the first major reward issued under the IRS tax whistleblower law,” the National Whistleblowers Center said in a statement.
Birkenfeld earned the reward from the Internal Revenue Service for providing the US government with “insider information on UBS’s illegal offshore banking scheme,” said the Washington-based nonprofit organization.
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UBS whistleblower gets $104 million reward for reporting Swiss bank fraud
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Posted in corruption, culture, Economics, Economics, recession, income redistribution, Politics, Recessions, the Rigged Game, Uncategorized, wealth redistribution, tagged countrywide, mortgage fraud, Whistle blower on Jpm7000000pmSun, 22 Jul 2012 16:02:09 +000012 10, 2010 |
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“Countrywide Financial was one of the subprime lenders at the heart of the financial crisis; its predatory lending practices resulted in disgustingly large payouts for executives while sticking low-income borrowers with explosive mortgages they hadn’t a hope of paying back. The New York Times‘ Gretchen Morgenson called Countrywide, “Exhibit A for the lax and, until recently, highly lucrative lending that has turned a once-hot business ice cold and has touched off a housing crisis of historic proportions.”
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Whistle Blower Reveals That Mortgage Fraud is Rampant in the USA
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