UBS’s romp through the Hall of Shame continues.
Earlier this year:
- Senior managers criminally indicted for helping US clients use tax shelters
- Sold “principal protected structured notes” from Lehman Brothers as conservative investments (now almost worthless)
- Sold clients $25 billion of ARS as cash-like securities (later forced into settlement)
- Massive writedowns for gambling on US mortgage securities
- Government bailout
- Tells clients it placed in Bernie Madoff’s Ponzi scheme that they’re on their own
See Also: Bernie Madoff’s Victims: The Slideshow
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.