US Justice withdraws complaint against UBS

The US authorities have withdrawn a complaint against UBS that saw the bank forced to produce documents relating to certain bank accounts held at its Singapore branch, payable to an American citizen suspected of tax evasion.

Since the institute has found a preliminary agreement with the Internal Revenue Service, the US Justice withdrew the complaint, as announced tonight by the US Department of Justice.

In late February, the US authorities had submitted a request to force UBS to hand over documents relating to the accounts of such Ching-Ye 'Henry' Hsiaw held at the Singapore branch of the Swiss group between 2001 and 2011.