The Other Miami-Basel Connection: Tax Havens Being Busted

The last few decades have basically been about (slowly, and sometimes poorly) chipping away at entrenched secrecy and exploitation by rich people and corporations. To the point where we at least know that certain things happen. For instance, this just in! “The United States attorney’s office in Miami accused Renzo Gadola, the head of RG Investment Partners, an investment-advisory firm in Zurich, of conspiracy to defraud the United States by helping wealthy Americans evade taxes from 2000 through this month.” It’s notable that Gadola was with UBS for 13 years, not just because “a former senior UBS private banking executive had worked as Mr. Gadola’s partner to help wealthy Americans evade taxes through Basler Kantonalbank.” In any event, don’t you worry about Mr. Gadola: “The fact that Mr. Gadola was charged with a criminal information and not indicted suggests that he may be cooperating with American investigators in their scrutiny of Swiss banking.”