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Line 171: On January 20, 2009, French prosecutors opened an investigation on behalf of French citizens and institutions who claim losses due to Madoff. One part of the investigation is over the AlphaLux fund set up by UBS, which counters that the bank set up the Luxembourg-based fund at the request of investors, but that Madoff was never on UBS's list of preferred investments.<ref>[http://news.yahoo.com/s/nm/20090120/ts_nm/us_france_madoff;_ylt=AmL7JUJu0inJEvaigUn9t3J34T0D "French Prosecutors Open Investigation of Madoff", Reuters via Yahoo News (January 20, 2009)]</ref> On February 18, 2009, UBS agreed to pay a fine of $780 ~~Million~~mllion to the USU.S. Government and entered into a deferred prosecution agreement on charges of conspiring to defraud the United States by impeding the [[Internal Revenue Service]] (IRS). In an unprecedented move, UBS, based on an order by the Swiss Financial Markets Supervisory Authority (FINMA), has agreed to immediately provide the United States government with the identities of, and account information for, certain United States customers of UBS’s cross-border business.<ref>[http://www.bloomberg.com/apps/news?pid=20601087&sid=a_TaQP5WVZuA&refer=home "UBS Will Pay $780 Million to Settle U.S. Tax Claims", Bloomberg.com website (Feb 18, 2009)]</ref><ref>{{cite web \|url=http://www.usdoj.gov/opa/pr/2009/February/09-tax-136.html \|title=UBS Enters into Deferred Prosecution Agreement \|publisher=US Department of Justice date=2009-02-18}}</ref> In addition, the Securities and Exchange Commission charged UBS with "acting as an unregistered broker-dealer and investment advisor" and filed an enforcement action against the corporation.<ref>{{cite web \|url=http://www.sec.gov/news/press/2009/2009-29.htm \|title=UBS Agrees to Pay $200 Million to Settle SEC Charges for Violating Registration Requirements \|publisher=U.S. Securities and Exchange Commission \|date=2009-02-18}}</ref>On February 19, the U.S. government filed suit against UBS to reveal the names of all 52,000 American customers, alleging that the bank and these customers conspired to defraud the IRS and federal government of legitimately owed tax revenue.<ref>[http://news.yahoo.com/s/ap/20090219/ap_on_bi_ge/ubs_secrets "Feds Sue UBS for All American Customer Names", Associated Press via Yahoo News (February 19, 2009)]</ref> == References ==