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Diamonds for infidelities, Sunshine for Swiss shadow banking
Good day for pay-to-play; Bad day for Swiss banks
 

GOOD DAY FOR: Pay-to-play, after the daughter of late British businessman Robert Charlton earned almost $500,000 by auctioning off diamonds and other jewels her father bought her mother every time he had an extramarital affair. In their 26 years of marriage, Robert bought wife Elizabeth Charlton more than 40 pieces of extravagant diamond jewelry, including antique rings, bracelets, earrings, and necklaces. (Reuters)

BAD DAY FOR: Swiss banks, after the U.S. and Swiss governments reached agreement on handing over information on 4,450 UBS bank accounts held by Americans suspected of tax evasion. Some 52,000 Americans have UBS Swiss bank accounts, according to U.S. estimates, but the 4,450 in the deal are the ones most suspected to hiding assets. Tax evasion is not a crime in Switzerland. (AP in Yahoo! Finance)

 

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