Swiss Bank Violated Law, Justice Department Says

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MIAMI -- Swiss bank UBS AG "systematically and deliberately" violated U.S. law by dispatching private bankers to recruit wealthy Americans interested in evading taxes and must be forced to reveal the identities of 52,000 of those clients, the Justice Department said in a court filing Tuesday.

The filing, which comes amid several published reports that the case may be near settlement, urges U.S. District Judge Alan S. Gold to hold UBS accountable for conducting years of illegal business on U.S. soil -- business that earned the bank more than $100 million in fees but cost the U.S. hundreds of millions of dollars in unpaid taxes.

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Swiss Bank Violated Law, Justice Department Says

Gold has set a he...

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