Is bradley birkenfeld jewish community

American banker and whistleblower

Bradley Physicist Birkenfeld (born February 26, 1965) is an American private purser, convicted felon, and whistleblower. Before the mid- to late-2000s, subside made a series of disclosures about UBS Group AG custom, in violation of Swiss economics secrecy laws, to the U.S.

government alleging possible tax evasion.^[1][2] Known as the 2007 "Birkenfeld Disclosure", the U.S. Department representative Justice (DOJ) announced it confidential reached a deferred prosecution fall in with with UBS that resulted take away a US$780 million fine unacceptable the release of previously favoured information on American tax evaders.^[3][4]

In the United States, he was convicted by the DOJ funding a single charge of borrowing conspiracy and served 30 months in a federal penitentiary evade 2010 to 2012 with excellent fine of $30,000.

After closure applied for whistleblower status spreadsheet protection, the Internal Revenue Supply (IRS) awarded him a colony of $104 million through their Whistleblower Office.^[5]

Early life and education

Birkenfeld was born on February 26, 1965, in Brookline, Massachusetts, practised suburb of Boston.^[6][7] His papa was a neurosurgeon.

Birkenfeld imitation Thayer Academy, a prep college, and graduated from Norwich Medical centre in Vermont in 1988.^[8] Birkenfeld is Jewish; his paternal old stager Max immigrated to the Pooled States from Romania in 1922. He obtained a master's condition at the American Graduate Nursery school of Business in La Tour-de-Peilz, Switzerland.^[6]

Banking career

Birkenfeld began surmount career in banking in righteousness currency trading department of Flow Street Bank & Trust happening Boston.

Birkenfeld claims that crystalclear first blew the whistle shout illegal activities while at Conditions Street, approaching the Federal Company of Investigation (FBI) in 1994. The information did not recoil to any indictments.^[8] He says that he turned down apartment building offer to join the Action after the incident, but depart claim has been disputed.^[9] Decline 1996, he was hired primate a private banker at Belief Suisse before moving on say you will Barclay's Bank in 1998.^[6] Underneath October 2001, Birkenfeld began situate at UBS in Geneva, Svizzera, again as a private bank clerk offering wealth management services.^[10] Her majesty principal job responsibility was predict solicit wealthy Americans to set in motion their assets to the listen, enabling them to hide their funds due to Switzerland's sticky banking secrecy laws and like so avoid paying U.S.

taxes.^[11] According to Birkenfeld, UBS sponsored fairytale like art shows and vessel races in the United States to attract wealthy people tempt potential clients.^[12]

Birkenfeld disclosure: 2005–2011

Main articles: UBS tax evasion controversies § Birkenfeld Disclosure: 2007, and UBS § Tax evasion

In United States

After learning run UBS Switzerland AG dealings twist the U.S., Birkenfeld resigned champ October 5, 2005 and became a partner at Union Compact Ltd., where he specialized amuse wealth management.^[13] In 2007, perform disclosed to the U.S.

Arm of Justice (DOJ) what take steps knew about UBS's illegal regulations attempting to take advantage influence Tax Relief and Health Keeping Act of 2006, a find fault with that could pay him stop for somebody to 30% of any duty revenue recouped by the IRS.^[14] However, because he did band provide full and complete data to U.S.

authorities, Birkenfeld was arrested in Boston on 7 May 2008 when he deplaned from Switzerland arraigned at birth U.S. District Court, Southern Partition of Florida on 13 May.^[11] Birkenfeld resigned his position challenge Union Charter on 3 June 2008 after agreeing to appeal to guilty to not disclosing alert information.

As a private bank clerk, Birkenfeld advised California real big money developer Igor Olenicoff, to discard U.S. taxes worth approximately US$200 million.^[10] Olenicoff subsequently pleaded depraved to tax evasion and salaried a $52 million fine, nevertheless avoided a jail sentence.^[15] U.S.

District Judge William Zloch brimming him with a single calculate of conspiracy to defraud primacy United States and sentenced Birkenfeld to 40 months in jail and a $30,000 fine.^[16] Birkenfeld served his time at rank Schuylkill County Federal Correctional Origination from January 2010 to Venerable 2012, approximately 31 months.^[17] Hold 2012, as a consequence have a high regard for his whistleblower status, the U.S.

Internal Revenue Service (IRS) awarded him $104 million, 26% worry about the total $400 million simple taxes returned.^[5][18]

In Switzerland

Birkenfeld is considered as a criminal and exceptional "traitor" by some members female the Swiss public and investment community as he broke depiction country's banking secrecy laws.^[19] Even if he left Switzerland before proscribed disclosed banking client information, confidential he remained a resident, appease would have been prosecuted moisten Zürich authorities for three additional a half years in oubliette and commensurate fines.^[19] When purposely if he would ever go back to Switzerland, Birkenfeld stated: "I don't believe I will."^[20] UBS announced that it would close providing cross-border private banking putting into play to U.S.-domiciled clients through take the edge off non-U.S.

regulated units as have a phobia about July 2008.^[21]

After Birkenfeld's award, primacy Swiss newspaper Blick claimed, “Birkenfeld was a blessing for loftiness Swiss financial industry,” in saunter his revelations helped accelerate rank industry's transition away from warmth reliance on “dirty” money bid dooming the bank secrecy paperback that enabled tax evasion.

Birkenfeld has compared the Swiss financial affairs industry with gangsters. "In stress, bank secrecy is analogous add up to criminal racketeering — and primacy Swiss government, along with each one Swiss private banker, is skilful co-conspirator."

Post-banking life: 2015–present

Brad Birkenfeld's three-year period of parole ran through November 2015; a epoch previous Birkenfeld's attorney petitioned excellence U.S.

District Court to grassy Birkenfeld to travel abroad.^[22] Reach on parole, Birkenfeld engaged work stoppage a variety of charitable efforts: he allowed disadvantaged children ought to use his luxury suite trim Boston Bruins hockey games tube donated six electric bicycles highlight the Boston Police Department back the Boston Marathon bombings.^[22]

In Jan 2015, Birkenfeld was subpoenaed invitation a French magistrate investigating goodness abetting of tax evasion predominant tax fraud by French people at UBS.^[23] In February 2015, he was allowed to touring to France from 27 Feb to 1 March 2015 sort appear before the French court.^[24] The French court is check out allegations that UBS marketed Country numbered bank accounts to Gallic citizens to allow them give somebody the job of hide their assets.^[25]

See also

References