Judge Orders UBS to Cough Up Clients' Names

Ruling a blow to Swiss bank, anonymous customers
By M. Morris,  Newser Staff
Posted Jul 1, 2008 5:20 PM CDT
Swiss bank UBS was ordered to turn over names of wealthy clients to federal investigators today.   (AP Photo)
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(Newser) – UBS must share the names of account holders with prosecutors investigating tax-evasion allegations against the Swiss bank's clients, a federal judge ruled this afternoon. Whether the bank would comply or appeal wasn't known, but UBS said in a statement it "looks forward to working with the IRS to address the summons," the New York Times reports.