Bradley Birkenfeld is a renowned American banker and whistleblower who gained fame for his role in exposing IRS tax fraud by UBS. Many people are curious about how much his wealth is.
This article will delve into Bradley Birkenfeld net worth, his career as a banker, and his personal life.
|Full Name||Bradley Birkenfeld|
|Popular Name||Bradley Birkenfeld|
|Birth Date||February 26, 1965|
|Birth Place||Brookline, Massachusetts|
|Marital Status||Not mentioned|
|Sexual Orientation||Not mentioned|
|Net Worth||$5 million|
|Source of Wealth||Banking|
What is Bradley Birkenfeld Net Worth and Salary in 2023?
As of June 1, 2023, Bradley Birkenfeld has a net worth of approximately $5 million. This wealth is the result of his successful career as a banker and the substantial reward he received for blowing the whistle on IRS tax fraud by UBS.
Why is Bradley Birkenfeld Famous?
Bradley Birkenfeld gained fame for being the first international banker to expose illegal offshore accounts held by U.S. citizens in Switzerland. His disclosures of IRS tax fraud by UBS led to significant legal actions and the dismantling of Swiss bank secrecy laws.
Birkenfeld’s whistleblowing efforts resulted in him being awarded $104 million, the largest reward ever given to an individual under federal whistleblower reward laws.
Bradley Birkenfeld Overview
Born on February 26, 1965, in Brookline, Massachusetts, Bradley Birkenfeld grew up in a family with a neurosurgeon father. He attended Thayer Academy, a prestigious prep school, before completing his studies at Norwich University in Vermont in 1988.
Birkenfeld’s paternal grandfather, Max, immigrated to the United States from Romania in 1922. He later earned a master’s degree from the American Graduate School of Business in La Tour-de-Peilz, Switzerland.
Career and Awards
Bradley Charles Birkenfeld is a renowned American private banker, convicted felon, and whistleblower. His career in banking began at the State Street Bank & Trust in Boston, where he worked in the currency trading department.
In 1994, Birkenfeld made his first whistleblowing attempt by reporting illegal activities to the Federal Bureau of Investigation (FBI), but this did not lead to any indictments. He then moved on to work as a private banker at Credit Suisse in 1996 and later at Barclay’s Bank in 1998.
In October 2001, Birkenfeld started working at UBS in Geneva, Switzerland, where he was responsible for soliciting wealthy Americans to move their assets to the bank.
This allowed these individuals to hide their funds due to Switzerland’s strict banking secrecy laws, thereby avoiding U.S. taxes. UBS even sponsored events like art shows and yacht races in the United States to attract potential clients.
However, after learning about UBS Switzerland AG’s dealings in the U.S., Birkenfeld resigned from his position on October 5, 2005. He then became a partner at Union Charter Ltd., specializing in wealth management.
In 2007, he disclosed to the U.S. Department of Justice (DOJ) what he knew about UBS’s illegal practices, attempting to take advantage of the Tax Relief and Health Care Act of 2006. This law could pay him up to 30% of any tax revenue recouped by the IRS.
Despite his disclosures, Birkenfeld was arrested in Boston on May 7, 2008, because he did not provide full and complete information to U.S. authorities. He pleaded guilty to not disclosing accurate information and resigned from his position with Union Charter on June 3, 2008.
As a result of his actions, Birkenfeld was charged with a single count of conspiracy to defraud the United States and sentenced to 40 months in prison and a $30,000 fine.
He served his time at the Schuylkill County Federal Correctional Institution from January 2010 to August 2012.
In 2012, as a consequence of his whistleblower status, the U.S. Internal Revenue Service (IRS) awarded him $104 million, which was 26% of the total $400 million in taxes returned.
Despite his contributions to exposing tax evasion, Birkenfeld is viewed as a criminal and a traitor by some members of the Swiss public and banking community for breaking the country’s banking secrecy laws.
Bradley Birkenfeld’s personal life remains relatively private
Social Media Accounts
As of now, Bradley Birkenfeld does not seem to maintain active social media accounts on popular platforms like Instagram, Twitter, YouTube, LinkedIn, or Pinterest. It is possible that he prefers to keep a low profile and focus on his professional endeavors.
FAQs about Bradley Birkenfeld
How much did Bradley Birkenfeld make?
For his disclosures of IRS tax fraud by UBS, Birkenfeld was awarded $104 million, the largest reward ever given to an individual under federal whistleblower reward laws.
How did Bradley Birkenfeld become famous?
Birkenfeld became famous for exposing a massive tax evasion scheme involving Swiss bank UBS, resulting in significant monetary recovery for the United States government.
Does Bradley Birkenfeld have social media accounts?
No, Bradley Birkenfeld does not appear to have active social media accounts.
Bradley Birkenfeld’s wealth are a testament to his successful career as a banker and whistleblower. His actions in exposing a massive tax evasion scheme have not only brought him fame but also led to significant reforms in the banking industry. Birkenfeld’s courageousness and dedication to justice have left a lasting impact, ensuring greater transparency and accountability in the financial world. Thank you for reading.
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