Union Bank of Switzerland (UBS) has been found to have extensive links with Hillary and Bill Clinton, as well as the Clinton foundation. Furthermore, reporting by The Epoch Times reveals that former President Barrack Obama is part of a social network that ties to UBS as well.
UBS is a Swiss investment bank and financial services company that is well known for its secrecy and tax evasion. Top U.S. politicians such as Hillary and Bill Clinton have been found to have ties to the bank and Hillary Clinton has defended it in tax evasion lawsuits with the IRS.
In 2009, when Hillary Clinton was sworn in as Secretary of State, she was asked to take part in an IRS tax evasion case involving UBS. Primarily, the IRS wanted information on U.S. clients who had secret accounts.
UBS ended up giving the IRS information about 4,450 accounts, which was a small fraction of the 52,000 that they sought to get initially.
After this settlement, UBS donations to the Clinton foundation grew from less than $60,000 through 2008, to a cumulative total of about $600,000 by the end of 2014. Furthermore, the bank joined in the Clinton Foundation to launch entrepreneur and inner-city loan programs, where it lent $32 million.
Bill Clinton was also paid $1.5 million for taking part in question-and-answer sessions, which was his largest fee for a speech or appearance since his presidency ended in 2001.
No evidence has been found proving direct links between Hillary Clinton’s role in the IRS case and the donations to the Clinton Foundation, but according to the The Wall Street Journal, it “is a prime example of how the Clintons’ private and political activities overlap.”
A whistleblower by the name of Stephanie Gibaud, author of Whistelblowers: The Man Hunt, used to serve many of UBS’s wealthiest French clients, but in 2012 she left the bank and went public with information about the bank’s involvement helping elite clients all over the world evade taxes.
Evidence from Gibaud played a major role in a French trial that resulted in a $4.5 billion penalty to UBS. In 2014, Gibaud testified in a trial in the U.S. where Raoul Weil was suspected to have organized tax evasion for more than 20,000 U.S. residents, which added up to an estimated $20 billion in 2008.
Gibaud said: “Networking is the most important thing in wealth management. If you trust the bank, then your friends and family will also trust the bank.
The Epoch Times has found that there was a network with Raoul Weil leading to former president Barrack Obama, as Weil was friends with Senator Robert Wolf, who was former Chairman and CEO of UBS America and a close friend with Obama. Gibaud went further to claim that “there’s a small world unto itself among UBS bank and its wealthiest clients, including Chinese officials and top politicians.”