Chapter 277 Then Seal All Branches in the Country
David took the information and looked at it carefully for about twenty minutes. Then he had some plans, stood up and said: "Follow me."
At the gate of the Los Angeles Internal Revenue Service, because the announcement just issued to the Swiss Bank was too explosive, some media in order to gain traffic have come and stationed here, planning to broadcast the latest news at any time.
“Director David is out!”
Soon, a media member’s shout alerted everyone at the door, and when they saw David and his party sitting on the The vehicle seemed to be going on a mission, so they got into their own cars and followed.
After galloping for about seven or eight kilometers, David's vehicle arrived at Rodeo Drive.
Here is the most prosperous and expensive shopping avenue in the world, and is also known as one of the top ten shopping paradises in the world.
But the media reporters who followed were a little confused.
What are David doing here?
Are you here for shopping?
Before they could continue thinking about it.
After driving for a while, the vehicle carrying David stopped at the door of a building. When I saw the name hanging on this building, the entire Internet went crazy.
【UBS Los Angeles Branch. 】
“I understand, Director David is going to find trouble with the Swiss Bank!”
“Yes, although the Swiss Bank is a foreign company, it still needs to open a branch in the United States. Complying with our American tax laws, could it be said that... Director David wants to retaliate against Swiss banks for not cooperating? ”
“Since Director David is going to take this as revenge, what I want to know is that as the most famous bank in the world, UBS’s legal and tax teams are the absolute best among the best. How can he find this bank’s tax consultant? "Is it a violation?"
Although most people have guessed David's intentions.
But whether it is media reporters or Internet fans, they are not very optimistic about David's behavior.
What is it that banks do best after all?
It’s a reckoning!
They calculate every penny more clearly than anyone else, and the same is true for tax matters.
It is no exaggeration to say that it is extremely difficult to find evidence of tax evasion from them.
David and his team naturally had no time to care about the comments from the media and people online. At this time, they had already walked into the Los Angeles branch of UBS.
Seeing his arrival, not only the staff in the bank were stunned, but also the customers who were handling various businesses.
Soon, a man in a suit and ties walked up and introduced himself: "Hello, Director David, I am the lobby manager of the Los Angeles branch of UBS. My name is Puichi. What can I do for you? Can I help you? ”
As an employee of UBS, he was certainly aware of the explosive announcement issued by the IRS not long ago, and he probably guessed that David was here to cause trouble, but at this time he pretended not to know anything.
[Name: Puic Santo. 】
[Occupation: Hall Manager of UBS Los Angeles Branch. 】
【Monthly income: 14,000 US dollars. 】
【Income details:...】
[More details:]
[…]
After using the system function to examine the lobby manager for a while, David did not see any major problems.
He is just a lobby manager, and his responsibility is only to be responsible for the situation in the lobby. He cannot touch higher-level business. It is normal that no abnormalities can be found.
It seems that the only way to investigate is the senior executives of this branch!
Putting away his thoughts, David said: "Notify the senior management of your branch that I want to see them now!"
"This... okay!"
Although I am very unhappy. David asked their Swiss bank to cooperate. After all, as the head of the Los Angeles Internal Revenue Service, he naturally did not dare to offend, so he could only turn around and go to inform them.
......
The fact that David came to the Los Angeles branch of UBS to investigate soon spread to the headquarters of UBS.
"I knew he would definitely make trouble for us!"
"Humph, let him find it. Anyway, our bank doesn't have much, except accountants, so there won't be any tax problems!"
“Director David is so powerful. He has brought all the lawbreakers and major Hollywood film companies into submission, but I want to take a closer look today to see what he can do to our Swiss bank. Like this!”
Many senior executives of Swiss Bank had already guessed that David might take revenge, so there were not many surprises.
And they are not panicking at all now.
The reason is also very simple. What their bank is best at is settling accounts. For tax issues like these, let alone 120 million, even if they can calculate every penny, they are naturally not afraid of being investigated.
"Candreva, your department is responsible for the tax aspect. There is no big problem with our Los Angeles branch, right?"
For the sake of safety, the group president Jets Still asked.
"Don't worry, Mr. Jets, as those netizens on the Internet said, the best thing about our bank is settling accounts, there will definitely be no problems!"
Being named Candreva, the head of the tax department, also patted his chest and assured.
"Let's see. You call the president over there and verify it carefully. You must make sure everything is foolproof. After all, you are not facing an ordinary person this time. This is David."
If it were another person. Others, then Jie Zi naturally does not need to be so cautious.
But that was David.
It wasn’t just criminals who fell into the hands of this guy. Even giants like Disney and Thackeray fell into trouble, and he didn’t dare to be too confident.
“Yes, Mr. Jets.”
...
Swiss Bank Los Angeles Branch, in a conference room.
At this time, the vice president, financial accounting department, risk department, and managers of various departments have all arrived at the scene.
David and the others were also brought here.
But no one spoke at this time, because there was still one person who had not arrived, and that was the president of the bank.
After about five minutes, the door was pushed open, and a somewhat obese man from the Mediterranean came in and said with a smile: "I'm sorry, Director David, I just received a call from the top of the headquarters, saying that we need to cooperate well." You enforce the law, and it’s a little late.”
He is the president of the Los Angeles branch of UBS, Ochoa Ito!
[Name: Ochoa Ito. 】
[Occupation: President of UBS Los Angeles Branch. 】
[Income: Legal income of 29,000 US dollars, illegal income of 600,000 US dollars. 】
[Income details: On January 14th, illegal loans were made to Weber Company and a profit of 100,000 US dollars was made. On January 29th, illegal loans were made to relatives and a profit of 50,000 US dollars was made. On February 13th...]
[More details:...]
[Tax payable: US$237,600. 】
David also said that he would summon these senior officials to take a closer look, but he did not expect that he would get something from just this president named Ochoa!
But I have to say, this guy is really calm.
She knew that he was the best at checking taxes, and knew that he was already coming to find trouble, yet he still dared to come in front of her.
How audacious!
Of course, it is not enough to have the bank manager’s dirty data under his control.
After all, these are the president’s independent actions and are not the original intention of the Swiss Bank headquarters.
Even if there is a thunderstorm, as long as the senior management of the Swiss bank puts all the responsibility on this president, at most they will only bear some joint liability in the end.
It seems that we still need to find a handle that can make the UBS Group headquarters shake its muscles and bones.
Thinking of this, David began to scan the other people in the venue, carefully examining them one by one.
[Name: Nick Conrad. 】
[Occupation: Vice President of UBS Los Angeles Branch. 】
[Income: Legal income of 22,000 US dollars, monthly illegal income of 220,000 US dollars. 】
[Income details: Income from illegal lending...]
[More details:...]
[...]
...
[ Name: Gladstone Angus. 】
[Occupation: Head of Risk Department, UBS Los Angeles Branch. 】
【Monthly income: 18,000 US dollars. 】
[Income situation...][...]
...
[Name: Cook Adonis. 】
[Occupation: Account Manager, UBS Los Angeles Branch. 】
【Monthly income: 15,000 US dollars. 】
【Income details:......】
【......】
After about ten minutes, David basically scanned all the branch executives present. In addition to some managers abusing their power and accepting bribes, he also found out some important information.
Over the years, UBS has created a product called CUUI and a product called CUUO in the United States.
CUUI, the main operation method of this product is to make profits by taking advantage of the differences between domestic investors and foreign investors.
Foreign investors are more heavily taxed on dividends, but they can temporarily sell their stocks to relevant banks, evade relevant supervision, and then reacquire them back, with the savings shared among all parties.
As for the product CUUO.
It refers to the simultaneous sale and repurchase of stocks on the day when dividends are distributed.
Because the transaction time is very short, the tax agency cannot determine who owns the ownership of the stock. Therefore, both the buyer and the seller can get a capital gains tax refund.
On the surface, these two products use legal tax avoidance methods to make profits for customers.
Because the IRS cannot determine the foreign investor or the party with the ownership of the stock, it naturally does not constitute tax evasion.
But if it can be confirmed.
Among them, Swiss banks use these two major products to attract customer deposits and make profits, and customers use the bank's products in order to obtain benefits and evade relevant tax collection. Then applying the profit regulations of the current black tax bill, it can be defined For the scope of tax evasion...
This is worth doing!
“Director David?”
Seeing that David summoned them over, but he was silent for a long time, Ochoa lost his composure.
David also came back to his senses when he heard the reminder. He immediately waved to Bucky behind him, and Bucky also tilted his ear towards him in a wise manner
"If you like this, go and check Swiss Bank branches in other cities about..."
David whispered about the two major banking products CUUI and CUUO.
He wanted to see whether these two products were being implemented by the Los Angeles branch of UBS, or whether they were being implemented by UBS branches across the country.
If it is implemented in branches all over the country...then he will have a lot of room for operation!
"President Ochoa, thank you very much for taking the time out of your busy schedule to come and cooperate with the investigation..."
While Bucky was away investigating, David started chatting with the bank's senior executives.
However, this gradually puzzled the bank executives present.
Co-authored by you, Director David came here in a big way just to chat with us?
But they didn’t wonder for long.
When Bucky, who had left and returned twenty minutes later, walked in, the situation began to change suddenly!
"Director, I have checked. These two products are indeed the tone set by the UBS Group headquarters. They are currently used by all their branches in our country to attract customers to make deposits!"
Listen! At this point, David showed a satisfied smile, then he stood up, looked at Ochoa and said: "I'm sorry, President Ochoa, I now suspect you and your branch of tax evasion. Please come with us." !”
Ochoa’s face changed drastically, and he immediately asked: “Wait a minute, Director David... why are we suspected of tax evasion?” As for making a profit, he knows better than anyone else. Could it be that he has been caught?
Thinking of this, he began to panic in his heart.
David said expressionlessly: "Don't worry, our IRS will never wrong anyone, come with us!"
"You... okay, we can go with you , but if something goes wrong, you, the IRS, must take responsibility.”
At this point, Ochoa could only compromise.
“This is nature.”
……
Outside the branch entrance, a large number of reporters were still stationed in order to grasp first-hand news at any time, but the next second, something shocking happened to them.
I saw all the senior executives of the bank being led out like prisoners.
"What...what is going on?"
"Could it be that Director David arrested these bank executives on suspicion of tax evasion? This is impossible!"< br>
“Looking at this posture, it’s really possible!”
"I don't think Director David will arrest these senior executives for reasons like tips or coupons like before, right?"
Although I feel sad about this scene. Very shocked.
But both the media reporters at the scene and the online viewers believed that David was deliberately trying to punish the Swiss bank as revenge for not cooperating.
I did not realize that the two products of UBS, CUUI and CUUO, involve tax evasion.
Washington, DC, Internal Revenue Service.
In the office, Obadiah and Donald looked a little calm as they watched on the big screen, the Los Angeles Internal Revenue Service officers taking away a group of Swiss bank executives.
As I said before, Swiss banks are not domestic banks.
You actually took away so many high-level officials in front of so many people in the media. This is a clear plan to punish them, and they will definitely protest seriously.
This may also trigger diplomatic relations between the two countries, and the IRS will be under great pressure by then.
"Deputy Director Donald, you have a phone number. It's Director David calling."
Just when the atmosphere in the office was a bit solid, Donald's secretary opened the door and walked in.
“Give it to me!”
Donald took the phone and said: “Hello.”
“Deputy Director Donald, this is David, this is it, Los Angeles You must have heard about what happened here, and I still want to make a request."
David said on the other end of the phone.
"What request?"
"Please give an order from the General Administration to have the IRS in major cities take action, seal all branches of Swiss banks, and escort all executives back for investigation!"< br>
“What!”
As soon as David said this, let alone Donald, Obadiah, who had heard about it, couldn’t help but twitch the corner of his mouth.
It’s not enough for you to close down the UBS branch in Los Angeles, but you also order the closure of all UBS branches across the country?
That Swiss bank must not explode!
But this is still the most serious.
You know, Swiss banks are one of the most important pillar industries in Switzerland!
The United States is Swiss Bank’s largest overseas market.
If this was seized, the loss in just one day would be inestimable, not to mention a month and a half.
It would be strange if the Swiss government didn't immediately jump out to protest.
The White House will be under tremendous pressure by then, let alone the IRS.
"David, what are you doing? This won't work. Swiss banks are the lifeline industry in Switzerland. Doing this will cause a rupture between the two countries and trigger an international uproar!"
< br>Before Donald could respond, Obadiah yelled into the phone. .
However, David was not timid at all and replied: "Director, of course I know that this will cause diplomatic conflicts between the two countries, but if they are really suspected of tax evasion, then they must abide by our laws. ?”
"It's useless, the evidence you found is not convincing enough."
What banks are best at is doing accounting, and it is also the leading bank in the world, Swiss Bank.
So in terms of taxation, there will definitely not be any big loopholes.
So Obadiah and Donald both felt that David probably just wanted to find some bank management corruption and bribery, or some reason for tipping coupons to punish them.
But from the standpoint of both countries, the Swiss authorities will never be convinced by sealing down all Swiss bank branches across the country based on these alone!
"Director, please listen to me first. After my investigation, I found that two products in the current Swiss Bank involve some problems..."
David was not in a hurry. The quirks of these two products, CUUI and CUUO, are explained one by one.
After listening, Obadiah and Donald's expressions slowed down a bit, and the latter asked: "According to you, Swiss Bank has attracted many of our depositors to save their money with these two major products. Go in, but none of the income earned by the two of them belongs to the IRS?”
“Yes.”
“Are you sure? Don’t make a mistake. ”
"I'm sure, otherwise how could I dare to take people away in such a big way."
(End of this chapter)