As previously blogged here: http://trustprofessioninasia.blogspot.com/2008/11/ubs-used-to-be-smart-or-uve-been.html, the US case against Raoul has escalated and now he has been declared a fugitive! How many organizations can boast that they have a US fugitive on their payroll and management committee?
As UBS claims to be closing all accounts owned by US persons, (as if all accounts beneficially owned by US persons are truly recorded as being owned by US persons!) and possibly face a [Edit: US$780 Million] fine from the IRS. Add some rumoured heavy 09 losses and it all adds up to be another nightmare year.
Implosion eminent
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