Estimates of the amount of money UBS helped to hide from the U.S taxman keeps going up and as investigators follow the money, the breadth of UBS's business they plan to examine has also widens. Given this potential black hole of doom for the bank, the always expected settlement talks are apparently well underway between UBS and the Justice department. No one is commenting on the record thus far, but a $1.2 billion settlement figure has been tossed around as just the thing to head off a potentially ugly felony indictment.

-- MDT

Labels: Raoul Weil, tax evasion, UBS