Tags: ubs | doj | swiss bank | bradley birkenfeld | whistleblower

A Whistleblower Reveals How He Destroyed Notorious Swiss Bank

bradley birkenfeld smiles on courthouse steps
US former UBS Group AG banker Bradley Birkenfeld who as a whistleblower helped U.S. authorities prosecute the Swiss bank for tax fraud poses with his book "Banker of Lucifer", on October 8, 2018 near Paris' courthouse, prior to the trial of UBS as part of the French part of this case. (THOMAS SAMSON/AFP via Getty Images)

By    |   Tuesday, 03 November 2020 12:41 PM EST

"Lucifer's Banker Uncensored: The Untold Story of How I Destroyed Swiss Bank Secrecy" by Bradley Birkenfeld

The Hunter Biden fiasco has been the latest serial in a long saga of coverups by the mainstream media. A separate, yet related chapter in this saga, deals with Joe Biden's involvement with the United Bank of Switzerland, known as UBS. Bradley Birkenfeld's book, "Lucifer's Banker Uncensored: The Untold Story of How I Destroyed Swiss Bank Secrecy," reveals just how he blew the whistle on the notorious Swiss bank.

Birkenfeld argues, and offers near-inarguable proof, that "The [Barack] Obama administration covered up and buried the largest tax scandal in U.S. history, and the documents and the events that occurred prove that. These aren't allegations, these are statements of fact."

"The Obama administration put then-Secretary of State Hillary Clinton in charge of this investigation and the DOJ [Department of Justice] was very hostile toward me. The ingrained incompetence was so blatant because they have had arrests over the years, so why didn't they do anything about it? They wanted this to continue, and they didn't want to rat out people. Also, Obama was taking contributions from UBS during his campaign."

This is true, as noted from the very progressive Democracy Now!'s reporting that proves, "[o]n the first day of his vacation in Martha's Vineyard in 2009, President Obama spent five hours golfing with UBS executive Robert Wolf, an early financial backer of Obama's presidential campaign." 

The Obama administration officials and DOJ officials were all tied to UBS in some way during the scandal. Then-Attorney General Eric Holder was the legal representative for UBS, which was the basis for his recusal during the scandal. Biden lived in and was the senator from Delaware, the country's largest state of incorporation. He was a politician for 47 years, so one wonders, why didn't he correct these accountability issues regarding financial institutions throughout his tenure?

The Clinton Foundation got donations from the Swiss government right after the UBS case settled. Clinton only got 4,700 of the 19,000 names requested during the UBS investigation. 

The French government got 5 billion euros back, where Clinton was only able to get $500 million.

Oversight and accountability are at the heart of Birkenfeld's case and he offers a number of solutions on how Americans should address these issues.

"I would start by cleaning out much of the Department of Justice," he said. "There has to be more fresh blood in there with fresh ideas. We need proper vetting of the people coming in there on the Criminal Division side to ensure that they do not have any political connections that could compromise their enforcement of the law. Big corporate fraud has to be prosecuted instead of getting deferred prosecution agreements, where all they do is write a check and walk away."

The big problem with the deferred prosecution agreement is "banks get to report that on their books as a loss, pay less in taxes, and sometimes they don't even pay the full amount that they were fined.

"Investors in the bank end up paying for the lawyers and litigation, while the executives walk away with a golden parachute. Ask Eric Holder: Why didn't he prosecute a single bank during the 2008 financial crisis?"

It appears immediately to the reader that if Biden is promising a return to the policies of the Obama administration, will that include the cronyism that Birkenfeld so forcefully articulates in his book?

Biden has recently faced heat for the admitted $1 billion-dollar scandal, where he admitted during a Council on Foreign Relations conversation that he withheld the money to fire a single "corrupt" prosecutor, as well as the developing scandal with his son Hunter being linked to a Chinese Communist spy ring that includes incriminating materials.

It would seem that Biden would first have some explaining to do. "Lucifer's Banker Uncensored" makes that a "must."

Michael Cozzi is a Ph.D. candidate at the Catholic University of America in Washington, D.C.

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Politics
"Lucifer's Banker Uncensored: The Untold Story of How I Destroyed Swiss Bank Secrecy" by Bradley Birkenfeld. The Hunter Biden fiasco has been the latest serial in a long saga of coverups by the mainstream media. A separate, yet related chapter in this saga, deals with Joe...
ubs, doj, swiss bank, bradley birkenfeld, whistleblower
662
2020-41-03
Tuesday, 03 November 2020 12:41 PM
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