UBS accused of Bond movie tactics in tax-dodging trial

About 30 of the cuts were in the US, with many in New York, two of the people said. The unit had 2,361 employees at the end of March, according to UBS filings.

PARIS: UBS Group AG goes on trial here today accused of encouraging rich clients to stash cash overseas to evade French taxes by deploying tactics “worthy of James Bond.”

The Zurich-based lender dispatched bankers across the border to seek out new clients even though they lacked the paperwork – a banking licence or European passport – to offer such services in France, the lead investigator wrote in the indictment ahead of the trial.