U.S. Awards UBS (UBS) Whistleblower $104M, the Largest Amount Ever
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Man, this guy will be able to afford a way better whistle the next time around! Maybe something Kanye would approve of, like a jewel-encrusted platinum whistle that plays one of his hit songs which each toot!
According to reports, the whistleblower in the UBS (NYSE: UBS) offshore account scandal, Brad Birkenfeld, was awarded $104 million for providing the IRS with insider info about the illicit practices.
We hope he's using a pseudonym.
While that is an amazing award -- arguably the largest awarded by the U.S. to a whistleblower -- Birkenfeld will have to wait to buy that yacht; he's currently serving a 40-month jail sentence under a felony conviction.
The WSJ today pointed out how Birkenfeld was arrested in 2008 for conspiracy to defraud the U.S. In 2009, Birkenfeld was said to have filed a claim under a 2006 law that awarded whistleblowers up to 30 percent of revs recovered if information they provided ends up being key in closing a case.
Amid the ruling, UBS shares are up 2.2 percent on the session.
According to reports, the whistleblower in the UBS (NYSE: UBS) offshore account scandal, Brad Birkenfeld, was awarded $104 million for providing the IRS with insider info about the illicit practices.
We hope he's using a pseudonym.
While that is an amazing award -- arguably the largest awarded by the U.S. to a whistleblower -- Birkenfeld will have to wait to buy that yacht; he's currently serving a 40-month jail sentence under a felony conviction.
The WSJ today pointed out how Birkenfeld was arrested in 2008 for conspiracy to defraud the U.S. In 2009, Birkenfeld was said to have filed a claim under a 2006 law that awarded whistleblowers up to 30 percent of revs recovered if information they provided ends up being key in closing a case.
Amid the ruling, UBS shares are up 2.2 percent on the session.
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