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UBS Bahamas Bank Account Linked To Tax Evasion

An American has been sentenced in a San Diego court for hiding funds in undeclared accounts in Switzerland and the Bahamas.

Jeffrey Chatfield received a three-year probation sentence and was ordered to pay $96,000 after filing false tax returns from 2000 through 2008 and hiding the assets in UBS and Credit Suisse accounts.

Chatfield opened a bank account at UBS Bahamas with the assistance of a UBS banker in 2000.

He then closed the account in the Bahamas and opened an account at a Swiss branch of UBS in 2002.

Two years later he closed this account and transferred all funds into a Credit Suisse account.

The bank closed Chatfield’s account in 2008 when it announced it was no longer  holding U.S. taxpayers’ accounts.


Posted in Business

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