Is to avoid hiding millions of dollars from the Feds. U.S. tax authorities really frown on that. Case in point, UBS client Juergan Homann is in hot water over a $6.1 million account that he kept secret in a Swiss bank account. To make matters worse, he used to the account to set up a fake loan for $5 million to fund business projects. Mr. Homann, take a tip from FC: honesty is typically the best policy. See the Investment News story here. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090925/FREE/909259981/1094/INDaily01
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