Chapter 280 Are you not afraid of thunderstorms?
Jets turned to look at the head of the legal department and ordered: "Amarin, take your team and go to Los Angeles immediately, but remember, first find out that David has What trump cards? If we really have some trump cards, we must try our best to settle out of court. Do you understand? "
Things have developed now.
No matter how stupid he is, he knows that David must have mastered something, otherwise he would never dare to label Switzerland like this in front of the whole world.
"Mr. Jets, I think...think..."
"Why are you hesitating? Just tell me if you have anything to say!"
"It's Mr. Jets!"
Amarin did not dare to write any more ink and said aloud: "The cause of this incident is still unknown. It has to go back to the Sackler family. What if it really reaches the point of out-of-court settlement and he asks us to hand over the family's assets?"
"Well..."
This question made Jets pause on the spot.
The rest of the senior executives were also speechless.
Now regarding the two major products CUUI and CUUO, it is indeed possible to cause a huge crisis for the entire Swiss bank.
But if we compromise on the assets of the Sackler family, it will be equivalent to destroying their brand as a bank and losing credibility in front of the whole world. This can be described as a dilemma!
"If it really comes to that point, I think maybe this is the only way to do it..."
"Are you crazy, House? Doing this will damage our sign, and The Thacker family is a Utahn. If the family’s funds are handed over to the IRS, how can those Utahns be willing to put their funds with us again in the future? ”
"Arabella is right. If we cooperate with the transfer of the Sackler family's assets, the rest of the Utahns will also be worried. If they feel that their money is no longer conservative with us, they will have to transfer their funds to us. If we take it away, we may be in a bigger crisis.”
As soon as a senior executive of UBS put forward his suggestion, he was immediately sprayed with blood by others.
Transferring the assets of the Sackler family will not only damage their brand, but the most serious point is that it may cause concern to the Jewish group.
This group of people are currently the largest customers of Swiss banks. Not to mention that they immediately withdraw their principal, just that they no longer trust Swiss banks and do not store funds in the future is not enough for them. It's a huge loss.
“Okay Amarin, you go over and talk to David to test out his trump card, and then we will make a decision after conveying the specific situation back!”
Jets couldn't think of any good solution for a while, so he could only take one step at a time.
……
The next morning, the director’s office.
“Director, UBS Group, because of this incident, its market value has evaporated by 6 billion US dollars overnight...”
“Director, the representative from UBS Group has already Arriving at Los Angeles Long Beach Airport, we will arrive at the airport in half an hour. ”
"..."
Listening to a series of situations, David nodded frequently. .
About ten minutes later, the specific work situation was reported.
David said: "Then get ready, let's 'greet' the representatives of UBS!"
"Understood!"
9.30am.
Two cars arrived at the entrance of the Los Angeles Internal Revenue Service.
The car door opened, and Yamalin and his party, who had arrived overnight, got out of the car. Seeing their arrival, the media personnel stationed here instantly became restless.
“The delegation from UBS Group is here!”
“It is said that UBS Group sent almost the entire legal department here this time. It seems that they are preparing to file a lawsuit with the IRS. 'Let's do it'! ”
"Mr. Yamalin, do you have the confidence to explain clearly the problems of CUUO and CUUI to the IRS this time when you come here?"
"Mr. Yamalin..."
Faced with the media's questioning, the people at UBS Group had no intention of being interviewed, and walked into the bureau with solemn expressions.
The IRS had already received news of the arrival of people from UBS Group. As soon as they saw their arrival, they immediately took them to a conference room on the 7th floor.
As for David and some of the higher-ups in the bureau, they were already waiting here.
"Hello, Director David, my name is Yamalin, and I am the head of the legal department of UBS Group. This is my colleague Ricardo and Humphrey..."
"Hello Yamalin Mr. Lin, Mr. Ricardo, hello Mr. Humphrey..."
David shook hands with these people one by one with a smile.
Then the two parties sat down separately, and Yamalin was the first to speak: "That's it, Director David. I don't agree with your claim that our two products, CUUI and CUUO, are suspected of tax evasion in violation of regulations." ”
“These two products of ours have been sold in the United States for five years and have accumulated tens of millions of customers. However, because of your slanderous and accusatory words. , now our credibility has been severely hit, which is not fair to us.”
Yamalin knew very well that when facing someone like David, he must not show weakness from the beginning, otherwise, he would be led by the other party's lead in the future.
So he immediately adopted tougher remarks from the beginning!
After hearing these words, David showed no expression. He directly threw a prepared document over and said: "Mr. Yamalin, this is what we found against one of your customers. Please take a look at the information!”
Amarin frowned slightly, but he dared not neglect it and immediately picked up the file and started to check it.
A few minutes later, as this line of information came into view, the sweat stains on his forehead continued to appear.
David was right, this was indeed the information of one of their customers.
What this customer purchased was this product from CUUO.
The model of this product is that on the day when stocks are distributed dividends, sales and re-acquisitions are performed at the same time. Because the transaction time is very short, the tax agency cannot determine who owns the stock ownership.
But in the current document, it is not only found out who the stock owner is, but also the company in which country the owner uses to operate is introduced in detail.
It can be said that once this document is released, it will definitely be a piece of evidence that accuses UBS Group of tax evasion!
Humphrey on the side saw that Amarin looked so ugly and realized that something was wrong. He immediately reached out to take the file and started to read it.
But soon, Humphrey, who had finished browsing, had the same ugly expression as Amarin.
CUUO is a product that has been tested by many parties before it is released. Let alone manpower, even the most powerful computers and the most powerful supervision system cannot be tested every time after the dividends are distributed. Find out the ownership of the stock, the institution holding it, and the holder.
But why can the property owner, holding institution, and holder of the information given by David be so clearly checked?
Humphrey racked his brain and couldn't figure this out. Then he looked at David and asked, "Director David, where did you get this document?"
"Do I need to tell you this?"
David leaned back and crossed his arms across his chest, looking like he was sure of victory.
"This..."
Humphrey choked at these words. However, he suddenly realized that his question was a bit silly.
Yes, why should people tell him?
Why should I tell him?
"Director David, what I want to know is, regarding this kind of customer information, how many copies do you have... now?"
The person speaking this time was Amarin.
If only one or two such documents are obtained, although it can be regarded as strong evidence that their UBS Group has violated tax evasion regulations, their UBS Group is still confident that they can settle it.
Even if it's not straight, it won't hurt your muscles and bones.
But if David holds dozens or more copies, then their UBS Group will not be able to get away so easily.
So this is what he is eager to figure out now.
“I can have every one of you customers who purchased this product!”
“What! Director David, what do you mean by this?”
Amarin and the rest of UBS's legal department were shocked.
Everyone can have it?
As I said before, the number of American customers who have purchased their two major products has reached tens of millions.
How can David have such information for everyone?
This is too outrageous!
"There's no other meaning, it's just the meaning of the words!"
Hearing David's affirmative words, Yamalin Humphrey and others exchanged glances, and then Yamalin spoke: "Director David, if our Swiss bank is hit by a thunderstorm, we will not be the only ones who are unlucky."
"What does this mean?"
David asked.
“It’s very simple. We control 26% of the world’s cross-border assets, the largest proportion of which comes from the United States. In other words, if we have a thunderstorm, the chain reaction will have the greatest impact on you. ! ”
"If there is a financial crisis and all your people are laid off, your tax revenue will drop sharply."
"And after your people lose their jobs, the government will inevitably pay a large sum of Unemployment benefits, but where does this money come from?”
“Of course it comes from the tax treasury of your IRS!”
“What will your IRS face then? The tax revenue will not come up, and a large amount of expenditure will be required, so if not done, the IRS will go bankrupt."
"Have you really not thought about the consequences of this?"< br>
This was a strategy that Yamalin and his party had already thought of when they arrived.
After all, their Swiss bank controls 26% of the world's overseas assets, which is a big bargaining chip for them.
And if their Swiss bank is really hit by a thunderstorm, the United States and even the IRS will also be affected. This is something David is worried about, right?
Even if you are not afraid, you still have to make some concessions, right?
After saying these words, Amarin and the others focused their gazes on David's face, hoping that David would show a trace of fear or worry.
But what disappointed them was that not only did David's face show no trace of fear or worry, he still maintained a smile as if he were an old man, and then he even said sarcastically: "Is there anything else you want to add, Mr. Yamalin?"
"You..."
Hearing such an understatement, Amarin Humphrey and others almost couldn't help but swear.
Is this David so stubborn?
Are you not even afraid of a financial crisis?
Aren’t you afraid that the IRS’s tax treasury will be drained?
Actually, it’s not that David is not afraid of these things, it’s just that he feels that the Swiss Bank may be more worried about thunderstorms than he is.
And once a thunderstorm breaks out, those Jewish people, Angsa people, and oligarchs from various countries who have deposited their money in Swiss banks will probably immediately seek to settle accounts with UBS's senior executives.
And now I have complete control over the initiative here, so there is no need to be too timid and be led by the other party.
“Director David, that’s all we have to say, why don’t you just give us an explanation, what do you really want?”
Yamalin lowered his stance slightly.
This is also a helpless move. The threat of financial crisis caused by thunderstorms is already a bargaining chip they can think of at present.
But David is obviously determined now and they don't dare to break up completely. Now they can only lower their posture and negotiate again.
“To be honest, I don’t want to go to court with you UBS Group, because doing so is simply a waste of my time...”
Hearing this, Amarin People were relieved.
Judging from what David currently has in hand, they certainly don't want to go to court. It would be best to reach an out-of-court settlement.
“So, as long as you admit CUUI and CUUO’s illegal tax evasion, pay us a tax evasion penalty, and cooperate with us in handing over the Sackler family property, your business in the United States will be able to Let’s start again, and the dispute with our IRS ends here.”
Hearing David’s words, the faces of Yamalin and others instantly turned into the color of pig liver
Although admitting the violations of CUUI and CUUO and paying another tax evasion penalty is enough to make UBS heartbroken, it is still barely acceptable in order to allow the group's branches to resume business in the United States.
But handing over the assets of the Sackler family is tantamount to letting them ruin their own reputation, which is unacceptable to UBS Group.
"Director David, you also know how important credibility is to a bank. The foundation of our Swiss bank is credibility guarantee..."
"Don't tell me this, I just want to hear your cooperation or support. Refuse!”
David interrupted before Yamalin could continue.
“…”
Amarin fell silent with a sullen face, and the other members of the UBS Legal Department at the scene were also speechless.
The atmosphere was frozen for a full two minutes before Humphrey said: "Let's do this, Director David. This matter is of great importance. We need some time to think about it. What do you think?"
"Go ahead. , you have one day to think about it, I have a lot of work, you must give me an answer before tomorrow!"
Although I was very dissatisfied with David's words that could not be refused.
But this is their territory after all, not to mention that someone is still holding their lives. Even if Humphrey and others were dissatisfied, how could they dare to refute too much, and they all left the office with a sad face.
(End of this chapter)