An ex-UBS Group AG employee turned whistle-blower may be getting closer to forcing reluctant French authorities to compensate her for helping them uncover about 9.6 billion euros ($10.2 billion) that taxpayers stashed away in Swiss bank accounts.
Stephanie Gibaud, who organized events for wealthy UBS France clients, got a boost last week when a court adviser said French tax authorities wrongly rejected her bid for compensation and should look at it again. It’s not the first time Gibaud has squared off with authorities reluctant to reward her. She previously requested 3.5 million euros for her troubles after helping with the criminal investigation against UBS. But judges decided in 2018 to give her just
The adviser said her contribution helped recoup unpaid dues and also aided the parallel criminal investigation that culminated last year in penalties worth
“I was proactive. I always did what I could to help my country,” Gibaud told judges during a hearing last week at an administrative tribunal east of Paris. “This case robbed me of my entire life. I haven’t been able to work since my firing in 2012.”
Gibaud’s case underscores the difference between the French and U.S. approach. Former high-flying banker Bradley Birkenfeld netted $104 million as part of an Internal Revenue Service award for blowing the whistle on how UBS helped wealthy Americans evade taxes.
The separate
That shouldn’t prevent tax authorities from rewarding contributions made prior to the law’s entry into force so long as the information provided was still in use after 2017, according to the court adviser.
With the court adviser now onboard, Gibaud’s lawyer, Antoine Reillac, is more hopeful this time round. He also highlighted that UBS France was ordered to face another trial for harassing Gibaud and a former audit manager who helped trigger the criminal probe.
“The tide is truly turning,” Reillac said in court last week. A ruling in the case is due on July 7.
