$104m award for blowing whistle on UBS tax evasion

Washington The former UBS banker who went to prison after telling the Internal Revenue Service how the bank helped thousands…

WashingtonThe former UBS banker who went to prison after telling the Internal Revenue Service how the bank helped thousands of Americans evade taxes, has secured a whistleblower award of $104 million, the largest individual federal payout in US history.

Bradley Birkenfeld told authorities how UBS bankers came to the US to woo rich Americans, managed $20 billion of their assets and helped them cheat the IRS. He pleaded guilty to conspiracy in 2008, a year after reporting the bank’s conduct to the justice department, the US Senate, IRS and Securities and Exchange Commission. He left prison on August 1st.

Lawyer said at a news conference in Washington that he was seeking a presidential pardon for Mr Birkenfeld, who is under home confinement. – (Bloomberg)