A New York toy salesman pleaded guilty to filing a false tax return that concealed assets at UBS AG, and he implicated four other people while detailing the bribery of a Swiss government official.
Jeffrey Chernick, 70, today admitted in federal court in Fort Lauderdale, Florida, he didn't declare $8 million held at UBS, the largest Swiss bank by assets, Reuters reports. Full story... Friends Provident slammed Resolution's governance arrangements as 'totally inappropriate' and is refusing to consider a tie-up unless its stalker rethinks its Guernsey offshore base, The Daily Mail says. Friends' chairman Sir Adrian Montague warned Resolution boss Clive Cowdery to go back to the drawing board if he wants to seal a deal. Full story...
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