Just when the advisory community was hoping that it had put Bernie Madoff behind it, federal authorities announced that two of the disgraced financier’s lieutenants have been indicted on criminal charges and are also facing a civil complaint from the Securities and Exchange Commission.
Meanwhile, the Internal Revenue Service announced earlier this week that it has withdrawn the John Doe summons in the UBS AG scandal in which the U.S. demanded that the company hand over the names of Americans with secret offshore accounts.
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