A quick diary to add more to the growing UBS/John McCain story, MarketPlace reports this morning that the bank that caters to the very wealthy has warned some of its employees not to travel to the U.S., for fear that they might be arrested.
A couple of weeks back, a UBS banker was indicted on tax evasion charges, after it was alleged that he helped an American real estate developer to avoid taxes. Apparently, this was no rogue employee.
Forbes has the story, via Atrios:
UBS has told members of its former private banking team responsible for rich US clients not to travel to America, the Financial Times reported.
The Swiss bank has also made lawyers available to the more than 50 bankers involved, many of whom have left UBS since it decided last November to wind down its cross-border private banking business for US customers.
UPDATE x 2 below the fold:
A former employee is believed to be helping the investigation:
It also emerged that American prosecutors are being helped by a former UBS employee who has leaked names of US clients of the Swiss bank. It is thought that the former employee may also be under investigation for potential wrong-doing.
and it seems that UBS may be involved in tax evasion in Germany.
2nd UPDATE: Here is the original MarketPlace audio story that started all this. I'm surprised at the interest - I was originally going to tack it on as a comment to the Olbermann diary at the top of the rec list.