Jailed UBS Banker May Get I.R.S. Billions

by Joseph K. Levene 

According to The New York Times, Bradley C. Birkenfeld, a former private banker at UBS Bank, may earn a multi-billion dollar reward if he wins his pending whistle blower lawsuit vs. the IRS.

Even though Mr. Birkenfeld will soon be living in a jail cell for the next 40 months, he maintains that he is due billions since he provided the IRS with specifics of the 4,450 UBS Clients, otherwise known as United States tax dodgers who banked with UBS Swiss Bank. 

Mr. Birkenfeld may prevail since "The whistle blower Law" has a provision that indicates he may be due 15%-30% of the resultant IRS proceeds of taxes, fines, penalties, etc., due because of the information he provided.

"Scores more are coming forward independently to disclose their assets. More than 14,700 offshore tax evaders emerged under an I.R.S. amnesty program, and while the I.R.S. does not yet know how many are from UBS, it presumes that the majority are."

"Now, as thousands of wealthy Americans seek amnesty for keeping illicit, offshore bank accounts, Mr. Birkenfeld and his lawyers hope to use a new federal whistle-blower law to claim a multi-billion dollar reward from the American government. If they succeed — and legal experts say the odds are pretty good — it would be the largest reward of its kind.

"Mr. Birkenfeld, who will  begin serving his prison term as soon as January, is represented by the executive director of the National Whistleblowers Center, Stephen M. Kohn." "We are seeking at least several billion dollars,” Mr. Kohn said".