American Tax Officer-Chapter 555 - 280: UBS Group Backing Down?_3

Chapter 555: Chapter 280: UBS Group Backing Down?_3

“You’ve paid taxes, but you still haven’t paid the taxes on these two products, not to mention that with these two products you’ve made billions in America over the years. Now you’re only being asked to pay $8.2 billion, that’s not too much, is it?”

David asked with a hint of disdain.

“You…”

“…”

Indeed, as Yamarin had said, $8.2 billion was no small sum.

Moreover, for capitalists, expecting them to cough up what they had already swallowed was nothing short of cutting their own flesh.

Therefore, Yamarin and others took turns negotiating with David over the following period.

However, none of it was effective.

No matter what they said, David maintained a demeanor of ‘pay or don’t pay, if you don’t pay, I’ll take action immediately.’

In the end, having no alternative, Yamarin slammed the door and left to make calls with the high-level executives of the group.

It wasn’t until a full 20 minutes later that he returned, gritting his teeth and said, “Fine, we’ll pay the fine. As for the Sackler family’s assets, we’ll also transfer them to their account before noon today.”

“But in turn, I hope that the IRS will also speed up the process to allow all of our branches in America to resume operations as soon as possible!”

Since they couldn’t negotiate a reduction in the fine,

Yamarin and the high-level executives of Swiss Bank could only settle for the next best thing, trying to get the branches here up and running as soon as possible to minimize losses.

“As soon as your funds are in place, getting your branches back up and running is just a word away for me.”

Given the compromise from the other side, David easily agreed to this minor request.

Outside the Los Angeles IRS office.

Seeing Yamarin and others walk out after talking for more than an hour, the media reporters swarmed them as usual.

“Mr. Yamarin, may I ask if there’s a result from the negotiation with Director David?”

“Cough cough…”

Yamarin cleared his throat and replied, “Yes, after our discussions with Director David over the last two days, we’ve now reached an outcome.”

“Mr. Yamarin, what is the outcome?”

“Mr. Yamarin, will you be transferring the Sackler family’s assets?”

“Mr. Yamarin, as a global banking leader, may I ask…”

The media on the scene went wild.

If Swiss Bank truly transferred the assets, it would mean the world’s safest and most reputable bank would lose its guarantee for the wealthy. The subsequent chain reactions could lead to transformative changes in the entire banking industry.

And if Swiss Bank resolutely refused to transfer assets, then David and the IRS would formally sue Swiss Bank.

Either outcome would be a feast for the global media!

In addition to the scene, the moment Yamarin’s words were heard, the internet instantly exploded.

Before this, the major social platforms had opened a betting pool for the event, just as they had previously done for Disney.

1. Swiss Bank chooses to compromise and transfers the Sackler family’s assets.

2. Swiss Bank, in line with its purpose of being the world’s most reputable and secure bank, will fight to the very end against Director David and the IRS!

The betting ratio for these two options was almost fifty-fifty.

For a simple reason: Swiss Bank’s reputation was at stake, being the leader in the banking industry, and moreover, not being a native American company, the chances of them standing firm against the IRS were certainly high.

Considering David’s tact and the large scale of UBS Group’s operations in America, opting to compromise was also understandable.

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That’s why the support rate for the two bets was fifty-fifty.

With everyone watching tensely, Yamarin’s next statement was shocking to everyone present.

“Swiss Bank has been established for over 150 years now and has become the world’s most reputable and secure bank. This concerns our customers’ assets, and we will not succumb to coercion by any person or any institution. Therefore, we will not transfer the Sackler family’s assets to the IRS!”

Silence!

Dead silence at the scene.

Everyone was so shocked by Yamarin’s words they couldn’t speak.

It took a full 30 seconds before people reacted.

“Damn, that’s Swiss Bank, always standing firm!”

“You should know that Director David is sitting right inside that office, and we’re right at the doorstep of their IRS, yet the head of legal affairs dares to refuse the IRS in front of the whole world. Isn’t this a slap in the face?”

“Swiss Bank is truly reliable, that’s it, I’m moving all my assets to the Swiss National Bank, a bank that even dares to refuse the IRS!”

On major social media platforms, people who had come back to their senses could not help but admire Swiss Bank’s courage.

Meanwhile, on the East Coast of New York, Senado Island.

“Very well, it seems that Swiss Bank is still unable to ignore our existence!”

“As long as they don’t give up the Sackler assets, we don’t have to be in such a rush to deal with David now, which solves one of our headaches.”

“Wrigley Guther, Swiss Bank is really impressive, very trustworthy. Perhaps we should consider moving more assets there.!”

Members of the Freemasonry, having heard Yamarin’s response over the television, also showed satisfied smiles.

It seemed their threats were still effective!

As long as Swiss Bank did not hand over the Sackler assets and set a precedent, the IRS naturally wouldn’t be able to touch their assets there!

The most important thing was that there was no longer such a rush to deal with Director David.