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Report: Greek tax authorities raid ex-UBS exec's home in tax probe


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Report: Greek tax authorities raid ex-UBS exec's home in tax probe

Greek tax authorities on July 4 raided the home of formerlocal UBS Group AGhead Christos Sclavounis and seized computers, documents and disks as part of awider tax evasion probe, the FinancialTimes reported July 19, citing "people with knowledge of the raid."

Sclavounis was head of UBS' investment banking arm in Greecebefore he was appointed chairman of the Hellenic Financial Stability Fund inMay 2013. He left thefund in March 2015.

The sources said the probe is focused on a list of 1,000suspected tax evaders assembled after a CD containing account information fromUBS' branch in Geneva was purchased by German authorities in 2012 andsubsequently shared with Greece. Some of the individuals included in the listhave already reached settlements with investigators, the sources added.

Greek authorities are also seeking to access additionalaccount information from the bank's Zurich and Lugano offices, as well as itsoperations in Luxembourg and Singapore, the FTadded.

UBS said it has not been contacted by Greek investigatorsabout the probe.

Earlier in July, the bank said it had been instructed by theSwiss Federal Tax Administration to turn over information linked to a French request forassistance on tax matters. UBS said it expects other countries to file similarrequests.