If you missed out on the chance to brag to all your friends that you fell victim to a Ponzi scheme targeted to high net-worth individuals, you may still get to see your name appear on a list of really rich people who now find themselves in a world of trouble.
Unlike the tally of Madoff victims, your inclusion on this list probably won't engender much sympathy.
As part of a settlement with the federal government, UBS is going to be handing over the name of 5,000 clients who used offshore accounts to evade taxes. The Department of Justice had originally demanded 52,000 names from the bank; the settlement, which allows UBS to avoid paying any fines, requires them to only sell out 10 percent of Americans who took advantage of the Swiss bank's tax-dodging services.
Who will make the cut? Who will face charges as a result? Stay tuned!
The Next Blacklist for the Rich [WSJ/Wealth Report]
UBS Is Said to Escape Fine but Will Provide 5,000 Names [NYT/Dealbook]