Is Temasek aware of this?

[red amoeba]

UBS to pay US$780mil to settle claims in tax evasion cases
Switzerland’s largest bank, UBS, will pay 780 million US dollars to settle tax evasion cases claims.

UBS agreed to resolve claims by the US Justice Department that the bank helped US citizens hide accounts from the Internal Revenue Service.

Prosecutors won’t pursue criminal charges if UBS makes promised reforms while paying 400 million US dollars in tax-related payments.

The bank must also dish out 380 million US dollars under accords with prosecutors and the Securities and Exchange Commission.

The agreement resolves claims that UBS acted as an unregistered broker-dealer and investment adviser to thousands of US citizens.

UBS is said to have reaped about 200 million US dollars a year in revenue by helping high-income clients through practices like setting up sham entities in tax havens.

====
never do proper due diligence or we are aware & still put money inside?

 

[DerekLeung]

It can be done as long as sanctioned by the state !

 

[commoner]

well,,,,, of course they know because they are probably doing the same thing all this while but not get caught yet,,,,,, look at Chen Shui Bian going through Singapore banks and claims from Indonesia, Malaysia and Burma that Singapore banks is OMO washing powder.

 

[Frankiestine]

Singapore government collaborating with crooks...

 

[Papsmearer]

UBS to pay US$780mil to settle claims in tax evasion cases
Switzerland’s largest bank, UBS, will pay 780 million US dollars to settle tax evasion cases claims.

UBS agreed to resolve claims by the US Justice Department that the bank helped US citizens hide accounts from the Internal Revenue Service.

Prosecutors won’t pursue criminal charges if UBS makes promised reforms while paying 400 million US dollars in tax-related payments.

The bank must also dish out 380 million US dollars under accords with prosecutors and the Securities and Exchange Commission.

The agreement resolves claims that UBS acted as an unregistered broker-dealer and investment adviser to thousands of US citizens.

UBS is said to have reaped about 200 million US dollars a year in revenue by helping high-income clients through practices like setting up sham entities in tax havens.

====
never do proper due diligence or we are aware & still put money inside?

Of course Temasek does not know. In the world of high finance, they are considered suckers waiting to be fleeced. U think UBS, Merrill, etc. did not know that these gullible idiots running temasek can be easily conned. There is no way that UBS would have revealed all these pending litgations, and if they did Temasek is an even bigger sucker for buying into them.

 

[Loofydralb]

well,,,,, of course they know because they are probably doing the same thing all this while but not get caught yet,,,QUOTE]

Oh how wrong you are. THEY WERE CAUGHT!!!

A few years back a GIC trader made use of insider info and the JApanese regulator caught them out.

GIC had to pay back the profits earned and the trader was made a scapegoat. He was demoted and pay cut. LKY runs GIC and there is no possibility the trader would use insider info without the top guys giving his blessing. If you break the law LKY would have screwed you but for the fact it was only a demotion signals the top honchos were in it too.

Once a crook always a crook.