Marcel Bruehwiler, chief executive officer of UBS AG’s Belgium unit, was charged in Brussels as part of a probe into a multibillion-euro tax fraud, accelerating the latest tax-evasion inquiry facing the Swiss bank.
Citigroup Inc. and Bank of America Corp. are facing the prospect of being sued by the Justice Department after officials broke off talks aimed at settling probes into the banks’ sales of mortgage-backed bonds.
The U.S. Justice Department has asked Citigroup Inc. for more than $10 billion to settle a probe into the lender’s sale of mortgage-backed bonds before the 2008 financial crisis, a person familiar with the negotiations said.
The U.S. is preparing to sue Bank of America Corp. after reaching an impasse in talks to resolve government probes of the lender’s sales of mortgage-backed bonds before the financial crisis, a person familiar with the matter said.
Professional golfer Phil Mickelson didn’t trade in shares or options of Clorox Co., his lawyer, Gregory Craig, said in response to news reports that a U.S. probe of alleged insider trading involves his client as well as gambler William Walters and billionaire Carl Icahn.
With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm’s biggest business partners to avert a panic, according to a person briefed on those communications.