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Swiss Banker Bradley Birkenfeld Will Collect $104M for Blowing Whistle on UBS

Former Swiss banker Bradley Birkenfeld will receive a $104 million whistleblower reward from the Internal Revenue Service for providing information that led to a $780 million fine paid by UBS AG and more than 35,000 tax evaders who have set up illegal offshore accounts to avoid over paying over $5 billion in taxes, fines, and penalties. 

According to news reports, Birkenfeld  provided detailed information on the inner workings of the secretive private wealth management division of the Swiss bank UBS, where the Birkenfeld helped his US clients evade taxes by setting up offshore accounts.  “I knew the other bankers.  I knew the other banks.  And I knew the headhunters,” Birkenfeld said at the time according to CNBC “So, I knew exactly who was doing this business.” 

Birkenfeld was released from federal prison in August after serving 31 months on charges relating to his efforts to help a wealthy client avoid taxes.  He is currently under home confinement in New Hampshire.   The terms of his probation prevented Birkenfeld from attending the press conference announcing his windfall. 

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