Evidence global bank UBS made “fictitious” trades to US markets
Aug 10, 2024 – This story tells of a conflict between a couple in the Bahamas who claim that UBS scammed them by taking their money and making fake trades into U.S. markets. They base their claim on UBS’ failure to supply required trade confirmations. However, some of the documents they supply do show money going in and out of their account for securities trades. The couple speak volumes about their charge and UBS declines to comment, saying only, “We believe these allegations have no merit.” And they have spent ten years fighting the couple in court to deny them a trial on the merits. There the evidence is strong that UBS can be abusive toward small clients and that the Bahamas court system is corrupt.