American Tax Officer-Chapter 551 - 279: The Little Coffer of Freemasonry
Chapter 551: Chapter 279: The Little Coffer of Freemasonry
UBS Group’s legal department members chose the Bellagio Hotel as their temporary residence.
Yamarin and the others, who had just returned there, entered a suite and immediately started a video conference with the headquarters.
“Mr. Jace, we’ve talked with that David…”
Yamarin recounted the conversation they’d just had at the IRS in detail.
“What, he actually found evidence of tax evasion in our products?”
Jace and the other executives at the Swiss headquarters all showed expressions of disbelief upon hearing this.
The Swiss Bank boasted a world-class risk assessment team.
If they dared to release the CUUI and CUUO financial products, then the risks must have already been minimized to the greatest extent.
Yet, despite this, David had still managed to find incriminating evidence, which was truly unexpected.
They had always heard about how formidable David was and that no one he targeted had ever escaped, but now they seemed to have experienced this firsthand.
“Yes, Mr. Jace, and according to him, as long as he wants to investigate, he can find issues with any of our clients who have purchased these two products.”
“What, any one of them!?”
“Impossible, I don’t believe it!”
“This is too exaggerated. There are thousands of clients who have bought these two products. How could he possibly find evidence on every single one!”
The high-level executives at the Swiss Bank headquarters were all taken aback upon hearing this.
As they said, there were thousands of clients who had purchased the CUUI and CUO financial products. If David could scrutinize each one so closely, wouldn’t that make him a sort of omnipresent god?
“Yamarin, what do you think? Is what David said credible?”
Jace asked in a grave voice.
“Mr. Jace, considering his impressive track record and the confident, nonchalant manner he had during our conversation, I personally believe that although his claim may be somewhat exaggerated, his confidence in being able to convict us is likely true.”
“I share Yamarin’s view. Looking at David’s demeanor, he doesn’t seem to be bluffing. And if he can find details on one client, it’s highly probable he can find two, three. If the numbers are high enough, we would have a hard time winning this lawsuit.”
Yamarin Humphrey expressed their opinions one after another.
And now, the high-level executives at the Swiss Bank headquarters could no longer remain calm.
As Humphrey said, David might not be able to find evidence on all their clients, but if he could find one, finding a second or a third was also likely—a matter of time.
And with such evidence, if it went to court, Swiss Bank would probably be in big trouble.
“Mr. Jace, in the end, he gave us two options. The former wasn’t too bad; it was just about confessing and paying a fine. But the latter… it was concerning the transfer of the Sackler family assets…”
Yamarin continued.
In fact, without him saying it, the executives at headquarters could already guess some of it.
Since David was giving them the choice of an out-of-court settlement, what else could he be after besides the transfer of the Sackler family assets?
“Let’s hear everyone’s opinion!”
At this juncture, Jace couldn’t make a decision on his own and could only ask the other executives to share their views to look for a better solution.
“Mr. Jace, I think, given the current situation, continuing to confront this David is not a wise move, especially since we have so many businesses in America.”
“Judging by the current situation, if we are convicted, and especially if it happens in court, the punishment will definitely be severe…”
“America is Swiss Bank’s largest source of revenue. Having a falling out with the IRS like this will probably make our future business quite difficult…”
“…”
Before Yamarin and the others reached Los Angeles, many executives at Swiss Bank shared the view that they absolutely could not tarnish their reputation.
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But now, many executives had to start reconsidering their view.
The reason was simple—they had seen the cards David held, and according to the legal department, those cards did indeed pose a risk that Swiss Bank could be laid bare.
If they stuck to their previous view, then once the case went to court, all of their business in America would suffer greatly.
It’s difficult to say how much the losses would be, but conservatively, they would amount to at least a hundred billion.
When weighing the importance, these executives, capable of holding senior positions at Swiss Bank, were of course no fools and naturally had their own judgment.
But not all executives were inclined to compromise.
At least the group’s deputy director disagreed, saying, “Mr. Jace, gentlemen, let me remind everyone, the most important thing in banking is credibility. Money can be earned again, but once credibility is gone, it’s truly gone!”
“Credibility is important, of course, but if we go to court, given the evidence David holds, as the legal department described, our losses could be immeasurable.”
“Now that David possesses such conclusive evidence, if he plays it up and introduces a policy restricting Americans from transferring money to Swiss Bank, our group might never recover from this downfall.”
