Madoff Trustee Sues UBS for $2 Billion

The trustee representing investors cheated by Bernie Madoff sued Swiss bank UBS (UBS) for $2 billion.

The suit alleges that UBS collaborated with Madoff’s Ponzi scheme, The Associated Press reported. The suit alleges 23 counts of financial fraud and …

UBS Will Not Take Legal Action Over Subprime Losses

Switzerland’s UBS (UBS) will not take legal action against former employees for racking up the massive losses on subprime mortgages that left the company needing a bailout.

Kaspar Villiger, the UBS chairman, said that company was looking to the futur…