Progressive Commentary Hour - 11.01.16

A look at the 2009 UBS scandal, banking fraud, corruption and the funding of illegal activities and why such nefarious activities among global elite matter

Bradley (“Brad”) Birkenfeld is an American investment banker and whistleblower whose disclosures led to an investigation into massive fraud among he uber-rich by the world’s largest bank – with over $2 trillion in assets, the Swiss firm UBS and other banks. He is accredited with being one of the most important whistleblowers in American history. The uncovering of this financial secrecy, which has included corruption and even terrorist activities,  resulted in a $780 million fine and long overdue changes in banking laws, federal tax codes and international tax treaties. The US Treasury also recovered $15 billion in back taxes. In 2009 Brad himself was sentenced to 30 months in a federal prison for abetting and advising wealthy clients about tax invasion and creating offshore companies. Brad had a lucrative fast track career in Credit Suisse and Barclays Bank and eventually UBS and later Union Charter economic advisors.  Today he is committed to philanthropy in support of whistleblowers and other endeavors. He holds a degree in Economics from Norwich University in Vermont and an International MBS from the American Graduate School of Business in Switzerland. His first book – “Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy” has been officially released today by Greenleaf Books.  Brad’s website is LucifersBanker.com