UBS, Largest Swiss Bank, Charged With 'Serious And Organized Tax Evasion'

BRUSSELS -- A Belgian judge charged Swiss bank UBS on Friday with money laundering and "serious and organized tax evasion,'' saying it directly sought clients in the country to help them skip taxes. UBS is Switzerland's largest bank and is considered the world's largest wealth manager. The spokesperson for the crown prosecutor, Jennifer Vanderputten, said in a statement that the charges were laid thanks to co-operation with French authorities, and refused to provide additional details. UBS said in a statement it takes note of the Belgian authorities' actions. "UBS will continue to defend itself against any unfounded allegations.'' The charges...