American Tax Officer-Chapter 544 - 276: The White House Is in a Dilemma
Chapter 544: Chapter 276: The White House Is in a Dilemma
Having received confirmation and assurances from David, Donald and Obadiah were almost entirely convinced, and a surge of anger rose in their hearts.
“You Swiss Banks have been making a killing in America with your banking services and various derivative products, and now, what do we have here? You dare to withhold a share from our IRS?”
This is simply outrageous!
Do you not take our IRS seriously at all?
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“Alright, David, we’ll close down all Swiss Bank branches in our country and detain all related personnel as you requested, but you’ll need to take care of the follow-up work,” Donald said before Obadiah could speak.
Obadiah quickly interjected, “Branch Chief, once you’ve shut down their branches and personnel, leave the rest to me.”
…
At the Los Angeles IRS, David, having hung up the phone, immediately sprang into a flurry of activity.
The CUUI and CUUO products were involved in too broad a range of activities; it was essential to identify the core staff involved in customer operations, which was a massive task.
At the same time, commands from the Washington D.C. Headquarters quickly spread to IRS offices in cities across the country.
An unprecedented clampdown on Swiss Bank had thus begun, reigniting debates across global media and among netizens.
“OMG, the IRS hasn’t just taken action against the Los Angeles Branch of Swiss Bank, but now they’ve moved on to all branches nationwide; it’s unbelievable!”
“What’s going on with the IRS Headquarters? They actually dared to cooperate with David and shut down all Swiss Bank branches across the country, and even took away many regional branch executives. Aren’t they afraid of diplomatic protests from Swiss Bank?”
“The IRS has gone mad, they’re going to completely infuriate Swiss Bank. If this continues, it might even require the presidents of both countries to negotiate!”
Not just the American public were in disbelief at this moment.
Even people from other nations found the IRS’s overbearing actions astonishing.
Regardless of whether the Swiss National Bank had acted illegally, just the act of shutting down and investigating all branches could lead to massive losses and a significant drop in stock prices for Swiss Bank.
The Swiss, and Swiss National Bank, must be panicking right now!
This could very well escalate into a diplomatic dispute between the two countries!
Indeed, as everyone had speculated, at that moment in UBS Group headquarters, executives were close to bursting with rage.
“Damn it, why do they dare do this, why does the IRS dare act this way!”
“Damn IRS, damn David! This is blatant retaliation for our non-cooperation in transferring the Sackler family’s assets. We must lodge a strong protest and let them know Swiss Bank isn’t something the IRS can just push around!”
“With the IRS acting this way, our losses will be huge. We need to not only protest but also demand hefty compensation!”
The executives were already livid upon hearing that David had clamped down on the Los Angeles Branch and taken away the branch manager and other related personnel.
And now, not only had the Los Angeles Branch been closed, but all American branches as well, which was tantamount to having them trampled and insulted.
Did they really think Swiss Bank was an American domestic enterprise, to treat it however they wished?
Different from other execs who were atop the wave of anger, Group President Jace was not showing any signs of rage at the moment, but rather, his expression was in a constant flux of contemplation.
David was no fool, and neither were the senior members of the IRS.
They surely knew the kind of consequences this action could bring about, so why did they still dare to proceed?
There must be some confidence behind it!
With this in mind, he immediately looked up at Candreva, the head of tax affairs, and asked gravely, “Candreva, you’ve already called our branch managers over there to inquire, right? There’s no issue, is there?”
“Um…”
At this point, how could Candreva dare to guarantee anything? He became hesitant.
Seeing Candreva’s expression, Jace’s brow furrowed instantly, and he demanded, “At this juncture, what’s there to hesitate about? Spit it out!”
“Well, Mr. President, through personal files and other investigations, I’ve found that our Los Angeles branch manager has committed several violations with unlawful lending. Could this be where the problem lies?” Candreva replied, forcing himself to speak.
He couldn’t guarantee that David’s confidence stemmed from this aspect.
Hearing this, Jace and the other executives’ faces visibly darkened.
Violating lending laws, if it were any other time, wouldn’t be a big deal.
After all, doesn’t every bank have a few such loans?
But with David clearly out to get them, if he intends to make an issue of this, then there will be at least some pretext for it.
“Wait… it’s just a case of unlawful lending, and besides, it’s the branch manager’s responsibility. We can have our lawyers talk with this manager and get him to take all the blame. That way, it won’t have too much of an impact on the overall situation of Swiss Bank!” suggested the Head of Legal Affairs immediately.
“That’s a good approach; I agree with it!”
“That’s right, unlawful lending is a personal issue of the branch manager. At most, we could bear some minor responsibility. The IRS won’t have a strong enough reason to target us with just this!”
