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Switzerland to seize UBS data

July 09, 2009|TIMES WIRE REPORTS

Switzerland said it would seize UBS data to prevent the U.S. Justice Department from pursuing a court order seeking the identities of 52,000 American customers of the bank in a crackdown on tax evaders.

The U.S. effort to enforce a summons seeking the names would force UBS to violate Swiss laws barring disclosure of such data, the Swiss government said in a motion in federal court in Miami.

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