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Lucifer's Banker: The Untold Story of How I Destroyed Swiss Banking Secrecy
Amazon Bestseller in White Collar Crime
Amazon Bestseller in Financial Services
Amazon Bestseller in Banks & Banking
As a private banker working for the largest bank in the world, UBS, Bradley Birkenfeld was an expert in Switzerland's shell-game of offshore companies and secret numbered accounts. He wined and dined ultrawealthy clients whose millions of dollars were hidden away from business partners, spouses, and tax authorities. As his client list grew, Birkenfeld lived a life of money, fast cars, and beautiful women, but when he discovered that UBS was planning to betray him, he blew the whistle to the US Government.
The Department of Justice scorned Birkenfeld's unprecedented whistle-blowing and attempted to silence him with a conspiracy charge. Yet Birkenfeld would not be intimidated. He took his secrets to the US Senate, the Securities and Exchange Commission, and the Internal Revenue Service, where he prevailed.
His bombshell revelations helped the US Treasury recover over $15 billion (and counting) in back taxes, fines, and penalties from American tax cheats. But Birkenfeld was shocked to discover that at the same time he was cooperating with the US Government, the Department of Justice was still doggedly pursuing him. He was arrested and served thirty months in federal prison. When he emerged, the Internal Revenue Service gave him a whistle-blower award for $104 million, the largest such reward in history.
A page-turning real-life thriller, Lucifer's Banker is a fascinating behind-the-scenes look at the secret Swiss high-net worth banking industry and a harrowing account of our government's justice system. Readers will follow Birkenfeld and share his outrage with the incompetence and possible corruption at the Department of Justice, and they will cheer him on as he ''hammers'' one of the most well-known and powerful banks in the world.
Amazon Bestseller in Financial Services
Amazon Bestseller in Banks & Banking
As a private banker working for the largest bank in the world, UBS, Bradley Birkenfeld was an expert in Switzerland's shell-game of offshore companies and secret numbered accounts. He wined and dined ultrawealthy clients whose millions of dollars were hidden away from business partners, spouses, and tax authorities. As his client list grew, Birkenfeld lived a life of money, fast cars, and beautiful women, but when he discovered that UBS was planning to betray him, he blew the whistle to the US Government.
The Department of Justice scorned Birkenfeld's unprecedented whistle-blowing and attempted to silence him with a conspiracy charge. Yet Birkenfeld would not be intimidated. He took his secrets to the US Senate, the Securities and Exchange Commission, and the Internal Revenue Service, where he prevailed.
His bombshell revelations helped the US Treasury recover over $15 billion (and counting) in back taxes, fines, and penalties from American tax cheats. But Birkenfeld was shocked to discover that at the same time he was cooperating with the US Government, the Department of Justice was still doggedly pursuing him. He was arrested and served thirty months in federal prison. When he emerged, the Internal Revenue Service gave him a whistle-blower award for $104 million, the largest such reward in history.
A page-turning real-life thriller, Lucifer's Banker is a fascinating behind-the-scenes look at the secret Swiss high-net worth banking industry and a harrowing account of our government's justice system. Readers will follow Birkenfeld and share his outrage with the incompetence and possible corruption at the Department of Justice, and they will cheer him on as he ''hammers'' one of the most well-known and powerful banks in the world.
317 pages, Hardcover
First published October 30, 2016
209 people are currently reading
1661 people want to read
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Displaying 1 - 30 of 99 reviews
November 8, 2018
I’m just going to come right out and say it: this book has a Grade 1 ick factor.
I want to burn this book. If I became a whistleblower and got awarded $104 million, I would spend it purchasing every copy of this book and burn them. And then print copies just to burn them again.
I hate this guy for so many reasons. He refers to himself as "a real American tax hero" with a straight face. More than once. He clearly sees himself as a badass Wild West gunslinger (the word "gunslinger" actually got used several time) - a daring, charismatic David taking on the Goliath of UBS.
Mind you, the only reason he blew the whistle was that his bosses were going to pin the fraud on him (and, after all, he WAS involved in the fraud). Not because he wanted to save American taxpayers (lol, he thinks the tax code is "fascist" because it taxes the wealthy so much). A saint, he ain't.
AND SO MODEST. Direct quote: “Armed with a big pair of cojones, financial smarts, and plenty of charm, I'd made millions of dollars [at the Swiss bank]."
And he’s so fucking entitled and so blind about that fact. He talks about how he always believed in the American justice system, and thought it was fair and righteous, until his own run-in with them.
Lol, you thought that? Really? And it took you, personally, being convicted (and released just 30 months later) to realize it? And he's white and was a multi-millionaire before he got arrested. Did it seriously never even occur to him that poor, black people were getting arrested for a reason other than justice?
Here is a very abbreviated catalog of the shitty things this man says:
1. He calls one of his ex-girlfriends (who is Brazilian) “exotic.” THIS IS SO WHITE AND CREEPY.
2. Direct quote; the only edit I made was toCAPS LOCK THE ABSURD PART: "We'd hop in my fire-red Ferrari 550 Maranello . . . my swiss chalet wasn't so special unless you're partial to magnums of Laurent-Perrier champagne, fresh beluga caviar, or boxes of Churchill cigars flown in from Havana. I guess it was nice if you like Swiss chocolates, Audemars Piguet watches, Brioni suits, and GORGEOUS GIRLS WHO CARE ONLY ABOUT PLEASING YOU."
Let. That. Sink. In. He lists HUMAN BEINGS like they are OBJECTS FOR HIS PLEASURE. Like they’re cigars or suits or GODDAMN FOOD.
3. He breaks up with his girlfriend when he gets a new job in another city, but he isn’t worried because he knows “the types of women” he’s going to meet and that he’ll “soon be over her.” Because, obviously, hot women are all exactly the same and you can just trade them in or upgrade as needed.
4. For Bradley Birkenfeld, men have “strong work ethics” or are “American heroes”--women have “beauty” or "sweetness" or, god forbid, "manners."
5. He played the orgasm scene of When Harry Met Sally when one of his coworkers locked down a deal, but "that only happened once—a lady in the office, of Middle East extraction, complained.” Sexist, elitist— I was getting worried we wouldn’t get racist in there, too!
6. He talks about how a lot of Jews died in the Holocaust but their money didn't, "to the benefit of Swiss banks." Please, sweet mother of Jesus, tell me that didn't really get printed in a real book.
7. His condo, worth millions, had a sign that read “Strong Ale and Loose Women” on the door.
8. Obviously, because it's Bradley Birkenfeld, he refers to a woman judge as a "Judge Judy-type." Simply no.
9. He refers to all women—and only women—as “my dear” and “darling." No men.
10. Especially his "beautiful young" assistant—who, he was quick to say, he “never touched”—“she was much too fine an assistant.” They “teased here and there, but it was always hands-off.” Puke. So you sexually harassed your employee? The worst part is, he genuinely seems to think he's a great guy for not putting hands on his employee. Bare minimum, Brad.
11. Every single woman who appears is defined by her appearance and little else. Literally, every fucking page we encounter a “beautiful” or “gorgeous” or “pretty” or “slim” or “provocative” or “sexy” woman, with a “slim body” or a “magnificent chest” or a “curvy figure” or “endless legs” or “Latina charm”. This guy is TRASH. Full stop.
It gets even worse when he tries to describe women he doesn't like. For instance, a woman who worked in the US Department of Justice, is described as “bulging from a Kmart brown suit, with tiny dark eyes and a permanent frown beneath a lifeless flat hairdo; she seemed dumb as a box of rocks.”
Later, she says to him, “You’re no whistleblower! You’re nothing but a tipster!”
In response, he thinks, Excuse me? Did we have some horrible one-night stand I don’t remember?
HE EVEN MANAGES TO SEXUALIZE SOMEONE HE HATES.
A short time later, she says something mockingly to him, and he goes, I was already thinking I’d like to dive over the table and choke the stupid bitch, but I ignored her. What a goddamn psychopath.
[He also later says the same woman is like her male colleague’s pet dog. FUCKER.]
12. “Ten girls are standing there, with comely smiles and manicured fingers on cocked hips. Mauro grins at me. ‘Choose anyone you want, Bradley. It’s all on me.’ It’s hard to choose. They’re all gorgeous and naked. So that’s why I couldn’t just walk away from [the fraud]. It was too much fun, and way too profitable."
I rest my case. Burn this book.
I want to burn this book. If I became a whistleblower and got awarded $104 million, I would spend it purchasing every copy of this book and burn them. And then print copies just to burn them again.
I hate this guy for so many reasons. He refers to himself as "a real American tax hero" with a straight face. More than once. He clearly sees himself as a badass Wild West gunslinger (the word "gunslinger" actually got used several time) - a daring, charismatic David taking on the Goliath of UBS.
Mind you, the only reason he blew the whistle was that his bosses were going to pin the fraud on him (and, after all, he WAS involved in the fraud). Not because he wanted to save American taxpayers (lol, he thinks the tax code is "fascist" because it taxes the wealthy so much). A saint, he ain't.
AND SO MODEST. Direct quote: “Armed with a big pair of cojones, financial smarts, and plenty of charm, I'd made millions of dollars [at the Swiss bank]."
And he’s so fucking entitled and so blind about that fact. He talks about how he always believed in the American justice system, and thought it was fair and righteous, until his own run-in with them.
Lol, you thought that? Really? And it took you, personally, being convicted (and released just 30 months later) to realize it? And he's white and was a multi-millionaire before he got arrested. Did it seriously never even occur to him that poor, black people were getting arrested for a reason other than justice?
Here is a very abbreviated catalog of the shitty things this man says:
1. He calls one of his ex-girlfriends (who is Brazilian) “exotic.” THIS IS SO WHITE AND CREEPY.
2. Direct quote; the only edit I made was toCAPS LOCK THE ABSURD PART: "We'd hop in my fire-red Ferrari 550 Maranello . . . my swiss chalet wasn't so special unless you're partial to magnums of Laurent-Perrier champagne, fresh beluga caviar, or boxes of Churchill cigars flown in from Havana. I guess it was nice if you like Swiss chocolates, Audemars Piguet watches, Brioni suits, and GORGEOUS GIRLS WHO CARE ONLY ABOUT PLEASING YOU."
Let. That. Sink. In. He lists HUMAN BEINGS like they are OBJECTS FOR HIS PLEASURE. Like they’re cigars or suits or GODDAMN FOOD.
3. He breaks up with his girlfriend when he gets a new job in another city, but he isn’t worried because he knows “the types of women” he’s going to meet and that he’ll “soon be over her.” Because, obviously, hot women are all exactly the same and you can just trade them in or upgrade as needed.
4. For Bradley Birkenfeld, men have “strong work ethics” or are “American heroes”--women have “beauty” or "sweetness" or, god forbid, "manners."
5. He played the orgasm scene of When Harry Met Sally when one of his coworkers locked down a deal, but "that only happened once—a lady in the office, of Middle East extraction, complained.” Sexist, elitist— I was getting worried we wouldn’t get racist in there, too!
6. He talks about how a lot of Jews died in the Holocaust but their money didn't, "to the benefit of Swiss banks." Please, sweet mother of Jesus, tell me that didn't really get printed in a real book.
7. His condo, worth millions, had a sign that read “Strong Ale and Loose Women” on the door.
8. Obviously, because it's Bradley Birkenfeld, he refers to a woman judge as a "Judge Judy-type." Simply no.
9. He refers to all women—and only women—as “my dear” and “darling." No men.
10. Especially his "beautiful young" assistant—who, he was quick to say, he “never touched”—“she was much too fine an assistant.” They “teased here and there, but it was always hands-off.” Puke. So you sexually harassed your employee? The worst part is, he genuinely seems to think he's a great guy for not putting hands on his employee. Bare minimum, Brad.
11. Every single woman who appears is defined by her appearance and little else. Literally, every fucking page we encounter a “beautiful” or “gorgeous” or “pretty” or “slim” or “provocative” or “sexy” woman, with a “slim body” or a “magnificent chest” or a “curvy figure” or “endless legs” or “Latina charm”. This guy is TRASH. Full stop.
It gets even worse when he tries to describe women he doesn't like. For instance, a woman who worked in the US Department of Justice, is described as “bulging from a Kmart brown suit, with tiny dark eyes and a permanent frown beneath a lifeless flat hairdo; she seemed dumb as a box of rocks.”
Later, she says to him, “You’re no whistleblower! You’re nothing but a tipster!”
In response, he thinks, Excuse me? Did we have some horrible one-night stand I don’t remember?
HE EVEN MANAGES TO SEXUALIZE SOMEONE HE HATES.
A short time later, she says something mockingly to him, and he goes, I was already thinking I’d like to dive over the table and choke the stupid bitch, but I ignored her. What a goddamn psychopath.
[He also later says the same woman is like her male colleague’s pet dog. FUCKER.]
12. “Ten girls are standing there, with comely smiles and manicured fingers on cocked hips. Mauro grins at me. ‘Choose anyone you want, Bradley. It’s all on me.’ It’s hard to choose. They’re all gorgeous and naked. So that’s why I couldn’t just walk away from [the fraud]. It was too much fun, and way too profitable."
I rest my case. Burn this book.
December 8, 2016
In the hands of a good journalist this could have been 5 star material. Author becomes investment banker, makes a killing in Switzerland helping US citizens evade taxes, whistleblows the whole thing, spends 3 years in jail, gets $100M reward from the IRS for the largest ever recovery of taxes.
Unfortunately the author spends the entire book trying to convince you that he's a rich angry douche bag, and it's nearly unreadable. I was begging the judge to put him away.
Unfortunately the author spends the entire book trying to convince you that he's a rich angry douche bag, and it's nearly unreadable. I was begging the judge to put him away.
December 2, 2016
A tell all story by a former American banker who worked for the Swiss bank UBS. The information he provided broke the Swiss banks secrecy and made it possible for the US Government to obtain previously withheld banking information for US citizens. Although he was prosecuted, and served prison time, he was given a whistle blower reward over $104 million based on the amount of taxes collected by the IRS. Should he have been sentenced to prison? That is up to each reader to decide after reading the book. I found some of the names mentioned to be eye-openers but not surprising.
I enjoyed the book and do not believe that he should have been sentenced to prison. I have rated it 5 stars and highly recommend it to anyone who wants to have a look behind the scenes at what has happened in the past and more than likely will continue to happen in the future.
I received an ARC from Netgalley for my unbiased review.
I enjoyed the book and do not believe that he should have been sentenced to prison. I have rated it 5 stars and highly recommend it to anyone who wants to have a look behind the scenes at what has happened in the past and more than likely will continue to happen in the future.
I received an ARC from Netgalley for my unbiased review.
April 8, 2021
Wary of writing a review since the author is both rich-as-fuck and highly litigious, but I guess I'll take the risk. I've also tried to review previous autobiographical books written by basically horrible people as judgments on the book and facts and not my opinions about the authors.
The book presents some of the internals of a portion of Swiss banking -- asset management in the "numbered accounts". Essentially, the author was a typical East Coast upper class prep school/liberal arts university kid who went into banking. He initially went to work for State Street in the FX department, then ratted them out for some misbehavior (for which no one was actually indicted, but he did drag them through the mud, including having literal clowns show up at a shareholder meeting -- facts aren't clear, but it's at least ambiguous what happened).
Somehow then due to stupidity on the part of European bankers, he was hired by Credit Suisse after doing a graduate business degree in Switzerland. At CS he did normal private banking stuff involving client relationship management and bringing new funds to the firm. One would have assumed more due diligence on the part of a Swiss bank here (hiring a former whistleblower/complainer is probably unwise for a private banking role...), but it was the 1990s and Google didn't exist then, and maybe they were desperate for hiring Americans. He apparently enjoyed the lifestyle in Geneva of a private banker (lots of income, expense account, travel, women, etc.). Then, UBS became desperate due to some scandal involving another banker departing their firm, and he was hired, again without much diligence, on terms which were vastly more generous than anyone in the bank traditionally received (a percentage of net new money brought into the firm.)
Somewhat predictably, he had problems with his boss and then his bonus wasn't paid promptly, at which point he decided to screw UBS and their clients, and even after receiving the bonus and continuing to receive lots of salary (and bonus, and perks) found a compliance-related document on their intranet site and took it to the US Government. He found that UBS had conflicted all the good corporate lawyers in DC, so he was forced to use two subpar lawyers, who proceeded to not prevent him from going to US DOJ and antagonizing them. There was some interaction between US DOJ and potentially incompetent or compromised government agents, UBS in various forms, and the author -- leading to lots of unpleasantness including federal congressional hearings, political intrigue, legal threats, the risk of Swiss prosecution, etc. (Most of what he did was explicitly against Swiss law, so he was trying to force a subpoena to be issued to him for the information by the US to make it compelled testimony as a defense against Swiss law.). It was an interesting tale, although the book obviously presents only one side of it, and the other sides are unlikely to ever be presented, as it's not in their interests to do so.
The descriptions of wealth and expenditures in banking were kind of repetitive, as were the repeated accounts of romantic conquests and world travels, but all were more interesting than the moralizing. It's interesting that the author suddenly became a super patriot against tax avoidance at exactly the time the bank (or rather, his boss at the bank) thought his exceptionally negotiated bonus was excessive, while apparently having no problem with this before that point. The technical security and other countermeasures taken by the bank, despite their lax personnel security procedures, seemed pretty incongruous, though.
There was a pretty amazing plot twist. All the muck-raking and whistleblowing led to some moderate punishment of UBS, as well as prison time for the author (3-4 years). Some public figures were burned (although those who came forward voluntarily were spared.). However, due to a conveniently-timed whistleblower statute, IRS paid him ~$75mm for his information (a percentage of taxes taken from UBS and its clients). So, he left federal prison wealthier than he would have been without this whole affair.
Scrutiny resulting from this, along with FBAR reporting requirements (and more recent FATCA requirements) are why US Citizens are prohibited from opening local bank accounts by many institutions around the world, especially smaller ones -- compliance costs for reporting, and risks, are not worth the revenues generated from these accounts. Not quite as bad as SEC keeping US investors safe from many of the world's best investments, but pretty inconvenient.
All in all, I think this book shows why Dante puts treachery in the 9th circle.
The book presents some of the internals of a portion of Swiss banking -- asset management in the "numbered accounts". Essentially, the author was a typical East Coast upper class prep school/liberal arts university kid who went into banking. He initially went to work for State Street in the FX department, then ratted them out for some misbehavior (for which no one was actually indicted, but he did drag them through the mud, including having literal clowns show up at a shareholder meeting -- facts aren't clear, but it's at least ambiguous what happened).
Somehow then due to stupidity on the part of European bankers, he was hired by Credit Suisse after doing a graduate business degree in Switzerland. At CS he did normal private banking stuff involving client relationship management and bringing new funds to the firm. One would have assumed more due diligence on the part of a Swiss bank here (hiring a former whistleblower/complainer is probably unwise for a private banking role...), but it was the 1990s and Google didn't exist then, and maybe they were desperate for hiring Americans. He apparently enjoyed the lifestyle in Geneva of a private banker (lots of income, expense account, travel, women, etc.). Then, UBS became desperate due to some scandal involving another banker departing their firm, and he was hired, again without much diligence, on terms which were vastly more generous than anyone in the bank traditionally received (a percentage of net new money brought into the firm.)
Somewhat predictably, he had problems with his boss and then his bonus wasn't paid promptly, at which point he decided to screw UBS and their clients, and even after receiving the bonus and continuing to receive lots of salary (and bonus, and perks) found a compliance-related document on their intranet site and took it to the US Government. He found that UBS had conflicted all the good corporate lawyers in DC, so he was forced to use two subpar lawyers, who proceeded to not prevent him from going to US DOJ and antagonizing them. There was some interaction between US DOJ and potentially incompetent or compromised government agents, UBS in various forms, and the author -- leading to lots of unpleasantness including federal congressional hearings, political intrigue, legal threats, the risk of Swiss prosecution, etc. (Most of what he did was explicitly against Swiss law, so he was trying to force a subpoena to be issued to him for the information by the US to make it compelled testimony as a defense against Swiss law.). It was an interesting tale, although the book obviously presents only one side of it, and the other sides are unlikely to ever be presented, as it's not in their interests to do so.
The descriptions of wealth and expenditures in banking were kind of repetitive, as were the repeated accounts of romantic conquests and world travels, but all were more interesting than the moralizing. It's interesting that the author suddenly became a super patriot against tax avoidance at exactly the time the bank (or rather, his boss at the bank) thought his exceptionally negotiated bonus was excessive, while apparently having no problem with this before that point. The technical security and other countermeasures taken by the bank, despite their lax personnel security procedures, seemed pretty incongruous, though.
There was a pretty amazing plot twist. All the muck-raking and whistleblowing led to some moderate punishment of UBS, as well as prison time for the author (3-4 years). Some public figures were burned (although those who came forward voluntarily were spared.). However, due to a conveniently-timed whistleblower statute, IRS paid him ~$75mm for his information (a percentage of taxes taken from UBS and its clients). So, he left federal prison wealthier than he would have been without this whole affair.
Scrutiny resulting from this, along with FBAR reporting requirements (and more recent FATCA requirements) are why US Citizens are prohibited from opening local bank accounts by many institutions around the world, especially smaller ones -- compliance costs for reporting, and risks, are not worth the revenues generated from these accounts. Not quite as bad as SEC keeping US investors safe from many of the world's best investments, but pretty inconvenient.
All in all, I think this book shows why Dante puts treachery in the 9th circle.
October 27, 2021
A tell-all that tell about zilch. It's probably a new thing: tell-nothing.
March 2, 2017
Nothing more than a vanity project
Hugely disappointing book that I was really looking forward to reading. Instead of giving inside info on the inner workings of Swiss banking and the fraud associated with it we get a nonstop rant by a guy who seems every bit as unlikable as the criminals he exposed. So much of this book really seems shallow and incoherent so don't make same mistake I made and buy it thinking it will be one of those great inside story expose. The hypocrisy of the author it's pretty repulsive and just adds to the disappointment that this nonstop angry rant of a book turned out to be.
Hugely disappointing book that I was really looking forward to reading. Instead of giving inside info on the inner workings of Swiss banking and the fraud associated with it we get a nonstop rant by a guy who seems every bit as unlikable as the criminals he exposed. So much of this book really seems shallow and incoherent so don't make same mistake I made and buy it thinking it will be one of those great inside story expose. The hypocrisy of the author it's pretty repulsive and just adds to the disappointment that this nonstop angry rant of a book turned out to be.
March 5, 2017
Lucifer’s Banker by Bradley Birkenfeld (3 Stars)
Thank you to the publisher and NetGalley for an advance copy of this book in return for an honest review.
This tell-all tale of Swiss banking and tax evasion by the super-wealthy is written in the same vein as Frank Abagnale’s Catch Me If You Can. You need to get past the author’s arrogance (and, wow, there’s a lot of that!), self-serving interests and smarter than thou attitude and just take in the story. At the beginning, I was ready to just give up as the author is so pretentious and pompous, but then I realized that if he hadn’t been, there wouldn’t be a story after all because “normal” people don’t behave in such a manner.
Birkenfeld is a banker working for UBS in Switzerland, living a life of luxury. He’s happy to do so, and makes no apologies for breaking the rules. It’s what keeps him in the cars, watches and jet-setting lifestyle he craves. However, once he realizes he may be the fall guy, he turns whistleblower. Birkfenfeld was later prosecuted and spent time in a low-security prison. After his release, he received a $104 million reward, which was a percentage of the taxes the IRS was ultimately able to collect.
Read the story and you be the judge. Did he deserve prison time? Did he deserve a reward for his dirty deeds? What about the U.S. judicial system and corruption? Politics and its machinations?
I can see this being a movie soon.
https://candysplanet.wordpress.com/
Thank you to the publisher and NetGalley for an advance copy of this book in return for an honest review.
This tell-all tale of Swiss banking and tax evasion by the super-wealthy is written in the same vein as Frank Abagnale’s Catch Me If You Can. You need to get past the author’s arrogance (and, wow, there’s a lot of that!), self-serving interests and smarter than thou attitude and just take in the story. At the beginning, I was ready to just give up as the author is so pretentious and pompous, but then I realized that if he hadn’t been, there wouldn’t be a story after all because “normal” people don’t behave in such a manner.
Birkenfeld is a banker working for UBS in Switzerland, living a life of luxury. He’s happy to do so, and makes no apologies for breaking the rules. It’s what keeps him in the cars, watches and jet-setting lifestyle he craves. However, once he realizes he may be the fall guy, he turns whistleblower. Birkfenfeld was later prosecuted and spent time in a low-security prison. After his release, he received a $104 million reward, which was a percentage of the taxes the IRS was ultimately able to collect.
Read the story and you be the judge. Did he deserve prison time? Did he deserve a reward for his dirty deeds? What about the U.S. judicial system and corruption? Politics and its machinations?
I can see this being a movie soon.
https://candysplanet.wordpress.com/
July 16, 2018
Oh my. Rarely have I so strongly disliked an author after only a few pages. And yet, despite that, I found it an interesting read. Perhaps because it reinforced my stereotype of Switzerland:: fast cars, fast women, fast fortunes, all fueled by dirty money. While a visit to Geneva has disabused me of this prejudice, that’s the kind of life Birkenfeld chose for himself. He likes to portray himself as a whistleblower who defied powerful institutions to protect the people, but he discovered his ethical scruples only after those institutions turned on him. His motive appears to be revenge rather than justice. He has the support of a fiercely loyal family, yet he apparently feels no loyalty to friends, coworkers and clients, using them when it suits his purpose. He uses all his considerable sales skills to persuade a client to come on board, then turns them into the authorities when the wind shifts.
May 26, 2023
The topic was interesting, especially learning about the enormous scope of tax evasion that takes place in the US and most importantly how many people and law firms engage in abetting tax evasion along with the complicity of some in the US government. But the author comes across as if his main motivation to blow the whistle on UBS was to humiliate his former boss. His arrogance, materialism, womanizing assertions and selfcentered attitude was hard to cope with while reading the book.
December 21, 2019
The book seems like a very subjective take and I have no time to dig deeper. Birkenfeld claims to have brought UBS to its knees by blowing the whistle on their recruitment of and banking practices for wealthy American clients hiding assets from the IRS. I don’t know if others were involved. Birkenfeld does a great job of simplifying the process and the players. Since UBS settled with the USG, I don’t believe citizens in rule of law countries can hide their assets in Switzerland like they used to. That was a very big deal. UBS encouraged and trained their Private Wealth Managers to hook Americans and get them to park their assets with UBS in order to extract fees. Then UBS hid a document in their intranet that Birkenfeld’s colleague accidently found forbidding USB employees from engaging in those very practices. According to Birkenfeld, that’s when he decided to blow the whistle, when he figured out UBS would hang him out to dry if he or they ever got caught. He also holds grudges so that could have motivated him as well. Unfortunately, he took his complaint first to the US DoJ. They were not eager to prosecute. Probably because friends, and friends of friends, of high-level DoJ staff did business with UBS. DoJ eventually sends Birkenfeld to prison for his efforts. Birkenfeld believes he should have been protected with immunity and because he resided in Switzerland while he worked for UBS, thereby beholden to Swiss law, not US law. As calculating as he is, I don’t understand why Birkenfeld tried to work with DoJ without immunity. He seems to have outmaneuvered his lawyers at every turn so they can’t be solely blamed. It was a crazy risk to take even for a high-risk, ample-ego kind of guy. In the meantime, Birkenfeld goes to Congress where hearings are called resulting in huge fines and tax payments. The IRS give Birkenfeld $104m reward after he is released from prison and he lives happily ever after. He’s lucky he stayed away from Russian high-worth clients!
Fun facts
A friend of Rudy Giuliani was a big client of Birkenfeld’s. The boss of Birkenfeld’s DoJ contact (the foot dragger) went to work for Giuliani’s law firm during the hearing period.
Birkenfeld convincingly illustrates how Sec State Hillary Clinton helped mitigate UBS penalties in exchange for favors.
Fun facts
A friend of Rudy Giuliani was a big client of Birkenfeld’s. The boss of Birkenfeld’s DoJ contact (the foot dragger) went to work for Giuliani’s law firm during the hearing period.
Birkenfeld convincingly illustrates how Sec State Hillary Clinton helped mitigate UBS penalties in exchange for favors.
June 26, 2024
Genuinely one of the worst books I’ve ever read in my whole life. I can’t think of one person who I would recommend this to. The autobiography is written by the most selfish, self absorbed, misogynistic men to walk this earth. No wonder I found this book on the $1 shelf at a local bookstore. Had 100 pages left but couldn’t finish it because it felt torturous.
March 21, 2017
It is nigh-on impossible to like Bradley Birkenfeld. I almost quit reading his book more than once, because I really could not stand him. He comes across as vapid, self-centered, self-aggrandizing, juvenile, sexist and, frankly, dumb. His favorite topic, right through the book, is his good self. The way he sees it, the world revolves around him. And it largely consists of cars, cigars, legs and swimming pools.
More damningly, and for all the talk about right and wrong, the impression I came away with from the book is that the original motivation Birkenfeld had to blow the whistle on UBS was to humiliate his former boss. If you’re wondering who the “Lucifer” is who gave his name to the book, that’s Bradley Birkenfeld’s supervisor at UBS, which is what makes the author “Lucifer’s Banker.” Lucifer is some private banker in Switzerland, it turns out. Eat your heart out, Robert deNiro.
The heroic acts recounted here include giving up to the US government the list of all clients who entrusted him with their secrets, often as a result of his having made the first approach. And the man shows no style whatsoever when he gloats that his estranged client’s son died. He even quips something about death and taxes that left a terrible taste in my mouth.
Guess what, folks, the guy is a total saint if you compare him with the system he foolishly decided to confront (and naively thinks he has beaten) and I spent the last one third of the book cheering for him with everything I had.
GO BRAD!
If you want to understand how the justice system goes about meting out justice, if you want to get into the head of a DOJ investigator and understand his motivations, if you did not know how Eric Holder earned his wings (or if you have any doubts about how his current “investigation” of Uber will go), if you need to understand what “revolving door” means between the justice system and the wealthier members of the private sector, if you’d like a glimpse of the head-of-state level of quid-pro-quo between the US and Switzerland, if you want to know who Obama was playing golf with as the judge was sending Birkenfeld to the slammer for three years, it’s all here. It really is.
And it’s damning and devastating, of course.
So after having spent most of the book thinking to myself “this woman you just talked about, please please don’t tell me if you slept with her,” or “I really don’t care if your friend has a helicopter,” I spent the last bit dying to hear how he dealt with the low-life prosecutor from the DoJ, marvelling at how he put the jail guards in their place, trembling that somebody would hurt him and cheering for him when he got his just reward. At the end of the day, the man’s a fighter and he took on a rigged system and, much as he did it for himself, he also did it for all of us. Bravo!
In truth, there could not possibly have been a better author for this book. It is by dint of having been delivered by so distasteful a messenger (and, for all his protestations to the contrary, so tangential a messenger: 20 billion is nothing compared to the 5-10 trillion that’s hiding beyond the taxman's reach) that this indictment of our system brings home the message loud and clear:
The fish stinks from the head.
More damningly, and for all the talk about right and wrong, the impression I came away with from the book is that the original motivation Birkenfeld had to blow the whistle on UBS was to humiliate his former boss. If you’re wondering who the “Lucifer” is who gave his name to the book, that’s Bradley Birkenfeld’s supervisor at UBS, which is what makes the author “Lucifer’s Banker.” Lucifer is some private banker in Switzerland, it turns out. Eat your heart out, Robert deNiro.
The heroic acts recounted here include giving up to the US government the list of all clients who entrusted him with their secrets, often as a result of his having made the first approach. And the man shows no style whatsoever when he gloats that his estranged client’s son died. He even quips something about death and taxes that left a terrible taste in my mouth.
Guess what, folks, the guy is a total saint if you compare him with the system he foolishly decided to confront (and naively thinks he has beaten) and I spent the last one third of the book cheering for him with everything I had.
GO BRAD!
If you want to understand how the justice system goes about meting out justice, if you want to get into the head of a DOJ investigator and understand his motivations, if you did not know how Eric Holder earned his wings (or if you have any doubts about how his current “investigation” of Uber will go), if you need to understand what “revolving door” means between the justice system and the wealthier members of the private sector, if you’d like a glimpse of the head-of-state level of quid-pro-quo between the US and Switzerland, if you want to know who Obama was playing golf with as the judge was sending Birkenfeld to the slammer for three years, it’s all here. It really is.
And it’s damning and devastating, of course.
So after having spent most of the book thinking to myself “this woman you just talked about, please please don’t tell me if you slept with her,” or “I really don’t care if your friend has a helicopter,” I spent the last bit dying to hear how he dealt with the low-life prosecutor from the DoJ, marvelling at how he put the jail guards in their place, trembling that somebody would hurt him and cheering for him when he got his just reward. At the end of the day, the man’s a fighter and he took on a rigged system and, much as he did it for himself, he also did it for all of us. Bravo!
In truth, there could not possibly have been a better author for this book. It is by dint of having been delivered by so distasteful a messenger (and, for all his protestations to the contrary, so tangential a messenger: 20 billion is nothing compared to the 5-10 trillion that’s hiding beyond the taxman's reach) that this indictment of our system brings home the message loud and clear:
The fish stinks from the head.
June 29, 2023
Fast paced, easy read. The author’s hubris stays with you from beginning to end, but it actually causes amusement after a while. Despite the endless turmoil and shenanigans of the DOJ, he remains firm in his convictions, albeit downplaying how he came to shift opinions with characteristic unabashed bravado. Some people will absolutely hate him as a person. Look beyond this & focus on the legal & banking story. His story is quite incredible to read. The legal dramas he gets involved in are described with a singular view. The machinations of politics and the law in the U.S. are interesting. It serves as both a cautionary tale & a redemption story full of bonkers energy, despite the chaos. The escapades he retells are definitely designed to shock and awe the general public. I would have preferred a little more detailed description of the whistleblower organizations who helped him & their workings. Also he purposefully simplifies the financial/ operational details of the Swiss bank he worked for, which is dumbing it down a little, and a pity. However, definitely worth a quick read!
December 31, 2017
Used 25% rule and dropped this book. Skimmed through the remaining 75% to get to the end. Good for him that he got reward, he deserves it but book is written very badly and it doesn't help that guy is narcissistic snob. If you can't root for the central character then there is no hope. When I took the book all I wanted to know was how Swiss handle their bank affairs and secrecy, intricate relationship with IRS. from private bankers perspective if he would have gone much deeper into his emotional side and conscience it would have been far more enjoyable Instead, all we get is his flashy lifestyle and repeated reference of his fighting spirit thanks to his 4 years in private military school. Book has literally no depth, even quotes are only from movies which only state things with style, no deeper meaning, nothing. Every line in the book feels like a B grade over the top movie.
December 17, 2023
Hard to get through this because, good grief this guy is an ass. Not wrong in much of his cynicism about how the rich and powerful go unpunished and the hypocrisy of law enforcement and the justice system ..but I couldn't can't get past that he is so arrogant, self-entitled, slimy, and full of himself to join him in his indignation.
March 7, 2023
Interesting but…
This was an interesting book, but I am glad I was listening for free with Audible Plus. I am all for whistleblowers, but unfortunately I did not warm to the author who was at the centre of the story. Frankly I found him pompous and chauvinistic, to the point where I almost stopped listening, but stuck with it to hear what happened. It’s his book and he has the right to be himself and say what he wants, so I’m not in a position to criticize, but you just might find he gets on your nerves too.
This was an interesting book, but I am glad I was listening for free with Audible Plus. I am all for whistleblowers, but unfortunately I did not warm to the author who was at the centre of the story. Frankly I found him pompous and chauvinistic, to the point where I almost stopped listening, but stuck with it to hear what happened. It’s his book and he has the right to be himself and say what he wants, so I’m not in a position to criticize, but you just might find he gets on your nerves too.
August 27, 2023
Reads like a non fiction spy novel but sadly is the truth!
Kudos to Bradley for having the courage to expose the lies and secrets of the Swiss. Too bad that just like Epstein’s list we will never know the names of everyone that had the secret numbered accounts. Oh and if you read this and still think Obama and the Clintons are such high moral ground characters….I don’t know what will change your mind.
Kudos to Bradley for having the courage to expose the lies and secrets of the Swiss. Too bad that just like Epstein’s list we will never know the names of everyone that had the secret numbered accounts. Oh and if you read this and still think Obama and the Clintons are such high moral ground characters….I don’t know what will change your mind.
August 31, 2023
An important book
This book was a thrill to read as well as an eye opener on how corruption thrives unless the whistle keeps on blaring. The authors life in the fast lane and what he accomplished was extraordinary! This a must read for all citizens for all nations especially the west around the world.
This book was a thrill to read as well as an eye opener on how corruption thrives unless the whistle keeps on blaring. The authors life in the fast lane and what he accomplished was extraordinary! This a must read for all citizens for all nations especially the west around the world.
December 3, 2016
I received a free copy via Netgalley in exchange for a honest review.
This is a scary insight into the world of banking.
An absolutely amazing read which will leave you wondering who should you trust with your money!!
This may leave you hating the author.
This is a scary insight into the world of banking.
An absolutely amazing read which will leave you wondering who should you trust with your money!!
This may leave you hating the author.
March 26, 2023
Explosive book and a tell all tale of greed, but self-serving and arrogant.
June 8, 2024
"Lucifer’s Banker" chronicles the most significant whistleblowing case in the financial services sector. The author played an undeniable role in halting unethical practices at UBS and sparked extensive legislative changes, leading to greater transparency and stronger taxation of offshore assets and revenues. Although the whistleblowing is presented as driven by moral considerations and a desire to expose wrongdoing within UBS, it often becomes apparent that self-preservation was a major motivator behind the actions taken. Additionally, the author's claim of being unaware of the IRS Whistleblower Program established the previous year seems implausible. In fact, when Brad first contacted the Department of Justice in 2007, the regulation allowing whistleblowers to receive between 15% and 30% of the amounts recovered by the IRS was already in effect.
Not judging the author's reasons, the book offers an insider's view of the secretive world of Swiss private banking and its web of services catering to wealthy clients wanting to hide some of their assets and income from tax authorities. The narrative is detailed, shedding light on the mechanics of tax evasion facilitated by UBS and the lengths to which secrecy was embedded into daily work: elaborate strategies to recruit and retain wealthy clients, complex financial instruments designed for secrecy, use of untraceable communications, and even anti-surveillance training.
Bradley's whistleblowing generated massive consequences for UBS and the Swiss banking system as a whole. Firstly, UBS eventually agreed to pay a fine of $780 million to the U.S. authorities and entered into a deferred prosecution agreement. The bank also agreed to disclose the names of several thousand American clients, marking a significant breach in Swiss banking secrecy. Several senior executives at UBS paid with their positions and even spent some time in US custody (Raoul Weil - the former chairman of UBS's Global Wealth Management & Business Banking, Martin Liechti: the head of UBS's wealth management for the Americas). Furthermore, the UBS investigation marked the beginning of the erosion of banking secrecy as Switzerland, under intense international pressure from the United States and the European Union, agreed to comply more with international standards to avoid being blacklisted as a non-cooperative jurisdiction. As an example, in 2017 Switzerland agreed to the Automatic Exchange of Information in tax matters, developed by the OECD. Through the Revision of the Tax Administrative Assistance Act, Swiss legislation was amended to facilitate easier assistance in international tax matters. Switzerland negotiated several withholding tax agreements with countries such as the UK and Austria. Also, Due Diligence Requirements were strengthened, with clear stipulations regarding enhanced identification of account holders and the source of their funds.
The book also describes the cost to Bradley of his decision to blow the whistle - including prosecution and time spent in a US jail. His saga is one of tough legal battles against a perceived corrupt system that tried to protect those too powerful to be caught in the scandal. Bradley even names politicians involved in the cover-up of the issues (Hillary Clinton at the top of the list).
All in all, an interesting read, but for me, somewhat spoiled by Bradley's claim of high moral ground
Not judging the author's reasons, the book offers an insider's view of the secretive world of Swiss private banking and its web of services catering to wealthy clients wanting to hide some of their assets and income from tax authorities. The narrative is detailed, shedding light on the mechanics of tax evasion facilitated by UBS and the lengths to which secrecy was embedded into daily work: elaborate strategies to recruit and retain wealthy clients, complex financial instruments designed for secrecy, use of untraceable communications, and even anti-surveillance training.
Bradley's whistleblowing generated massive consequences for UBS and the Swiss banking system as a whole. Firstly, UBS eventually agreed to pay a fine of $780 million to the U.S. authorities and entered into a deferred prosecution agreement. The bank also agreed to disclose the names of several thousand American clients, marking a significant breach in Swiss banking secrecy. Several senior executives at UBS paid with their positions and even spent some time in US custody (Raoul Weil - the former chairman of UBS's Global Wealth Management & Business Banking, Martin Liechti: the head of UBS's wealth management for the Americas). Furthermore, the UBS investigation marked the beginning of the erosion of banking secrecy as Switzerland, under intense international pressure from the United States and the European Union, agreed to comply more with international standards to avoid being blacklisted as a non-cooperative jurisdiction. As an example, in 2017 Switzerland agreed to the Automatic Exchange of Information in tax matters, developed by the OECD. Through the Revision of the Tax Administrative Assistance Act, Swiss legislation was amended to facilitate easier assistance in international tax matters. Switzerland negotiated several withholding tax agreements with countries such as the UK and Austria. Also, Due Diligence Requirements were strengthened, with clear stipulations regarding enhanced identification of account holders and the source of their funds.
The book also describes the cost to Bradley of his decision to blow the whistle - including prosecution and time spent in a US jail. His saga is one of tough legal battles against a perceived corrupt system that tried to protect those too powerful to be caught in the scandal. Bradley even names politicians involved in the cover-up of the issues (Hillary Clinton at the top of the list).
All in all, an interesting read, but for me, somewhat spoiled by Bradley's claim of high moral ground
October 17, 2018
It is rare to read a brutally honest story that has such a close reflection up the systems of government at play in our day to day lives.
The average American has no clue what their tax dollars should be doing or could be doing. If wealthy people & corporations were willing to pay what they weigh our society would be less desperate for the basics, but they are incentivized by corrupt officials whom only seek to keep their homes and cars paid for / bank accounts padded of the working class.
I read this book while living in Germany, yes an expat of 3 years and my reasons are very similar to the author for departing. Finding corruption in places that tear at the lining of your gut is one thing we have in common. Me, a cancer survivor who decided to fight for people less fortunate than myself, 1 year after being diagnosed I entered the life of philanthropy, as a producer and director I found the most corrupt underhanded people Id ever been exposed to. My father (RIP DAD) and brothers are bail bondsmen so I'm no stranger to crooks, I'm from Chicago and lived in NYC for years so no stranger to the mob like mentality of the ruling parties, and even both parties of our system the Democrats and Republicans both corrupt. Like the author, I decided to take on the snake pit of philanthropy crooks, I won't name the million and billionaires, but let's just say I swiftly lost that battle. The audacity of little me indulging in a system endorsed by multi-millionaire bankers whos plans lets just say we're not about healing the world, I was bold and alone at the end of the fight. I did not get a check but I blew my whistle as loud as I could...
I was devastated to find corruption reaching so far into the banks, the agencies, the talent the NGO orgs and some of the largest nonprofits in America, that your head would spin. So like a true African American, I fought until the rug was pulled out from under my ass.
Like the book author, I decided that in order to live my best life it would have to be outside the corruption of the lion's dean of which I was born. I have since departed from the country that brought my great-grandparents over on a boat.
The Book:
I recommend this truth to power story for a few reasons, Mainly listed below
Exhibit 1) If you want to get fired up about the corruption in the DOJ, as it is today run by a man Martin Luther Kings wife despised so much she wrote a letter the Senate, who refused to allow the letter to be read before J Session was sworn in says it all. Mr.(Country Ass ) Sessions, who lied during his walk into the DOJ, Mr. I don't recall speaking with the Russians, Mr recuses my self, continues to forget the shit he says. He like the liars the author exposed need to be taken out of government. So when you read this book it will back up the feelings you have about our good old corrupt DOJ being run by the ex-lawers of corrupt swiss banks living their best lies in the good old USA.
Exhibit 2) If you like it when authors are balls to the wall, and willing to Speak truth to power even when it means going to jail and being undermined by the very people you seek help from, well reading this book will give you a thrust of adrenalin.
If you want to be revved up and revitalized & reminded that you can survive anything read this book...
Thanks, Bradley
The average American has no clue what their tax dollars should be doing or could be doing. If wealthy people & corporations were willing to pay what they weigh our society would be less desperate for the basics, but they are incentivized by corrupt officials whom only seek to keep their homes and cars paid for / bank accounts padded of the working class.
I read this book while living in Germany, yes an expat of 3 years and my reasons are very similar to the author for departing. Finding corruption in places that tear at the lining of your gut is one thing we have in common. Me, a cancer survivor who decided to fight for people less fortunate than myself, 1 year after being diagnosed I entered the life of philanthropy, as a producer and director I found the most corrupt underhanded people Id ever been exposed to. My father (RIP DAD) and brothers are bail bondsmen so I'm no stranger to crooks, I'm from Chicago and lived in NYC for years so no stranger to the mob like mentality of the ruling parties, and even both parties of our system the Democrats and Republicans both corrupt. Like the author, I decided to take on the snake pit of philanthropy crooks, I won't name the million and billionaires, but let's just say I swiftly lost that battle. The audacity of little me indulging in a system endorsed by multi-millionaire bankers whos plans lets just say we're not about healing the world, I was bold and alone at the end of the fight. I did not get a check but I blew my whistle as loud as I could...
I was devastated to find corruption reaching so far into the banks, the agencies, the talent the NGO orgs and some of the largest nonprofits in America, that your head would spin. So like a true African American, I fought until the rug was pulled out from under my ass.
Like the book author, I decided that in order to live my best life it would have to be outside the corruption of the lion's dean of which I was born. I have since departed from the country that brought my great-grandparents over on a boat.
The Book:
I recommend this truth to power story for a few reasons, Mainly listed below
Exhibit 1) If you want to get fired up about the corruption in the DOJ, as it is today run by a man Martin Luther Kings wife despised so much she wrote a letter the Senate, who refused to allow the letter to be read before J Session was sworn in says it all. Mr.(Country Ass ) Sessions, who lied during his walk into the DOJ, Mr. I don't recall speaking with the Russians, Mr recuses my self, continues to forget the shit he says. He like the liars the author exposed need to be taken out of government. So when you read this book it will back up the feelings you have about our good old corrupt DOJ being run by the ex-lawers of corrupt swiss banks living their best lies in the good old USA.
Exhibit 2) If you like it when authors are balls to the wall, and willing to Speak truth to power even when it means going to jail and being undermined by the very people you seek help from, well reading this book will give you a thrust of adrenalin.
If you want to be revved up and revitalized & reminded that you can survive anything read this book...
Thanks, Bradley
July 8, 2022
I listened to this book in tandem with many of the other white collar crime stories I've been going through lately. This was a slightly different angle, coming from the POV of the person actually involved. It was interesting thinking about the fact that he did participate in all of these activities, knowing that they were shady at best. However, thinking about a young person coming into a large, successful company, one can see how it would be easy to slip into this pattern and just go with the flow. Would he have "blown the whistle" so to speak, if he had kept working under managers he admired and respected? Who knows? It was pretty interesting to hear that he did end up with jail time though, even coming to the US with this information on a silver platter. All in all, it doesn't sound like he suffered too much in prison, and a nice way to leave knowing he was most likely coming into a nice chunk of reward money. It sounds like he did try to spread the wealth a bit among his fellow inmates, probably not enough to even put a dent in his own account though. Hopefully he will actually do some good with this money for others that find themselves in a similar situation for doing the right thing.
January 29, 2024
I never write reviews, but I have to say, only I read this for work I wouldn't have finished it. The self righteousness of this guy is beyond belief. This book is not about how he "destroyed swiss secrecy laws" it's about how great his life was fully taking part in these illegal activities & how he only blew the whistle because he found UBS banks insurance policy if they were ever caught was to claim staff were told not to engage in this behaviour.
Which is despicable no doubt yes - but he then starts behaving like a choir boy, claiming he should receive the medal of honour & he was doing this for the American people.
The man is insufferable. And of course he made millions blowing the whistle too, so he came up smelling of roses, even after a 2.5 year stint in prison which he refers to as "camp cupcake." It's amazing how some people just get so lucky.
There are also multiple racist and misogynistic comments throughout.
Which is despicable no doubt yes - but he then starts behaving like a choir boy, claiming he should receive the medal of honour & he was doing this for the American people.
The man is insufferable. And of course he made millions blowing the whistle too, so he came up smelling of roses, even after a 2.5 year stint in prison which he refers to as "camp cupcake." It's amazing how some people just get so lucky.
There are also multiple racist and misogynistic comments throughout.
August 1, 2019
Author so insufferable and self absorbed that it made me question the veracity of the details (note: "veracity of the details") of the story, which looked to be a great one in the making. I came in with higher hopes. Almost every page is laced with putting himself over as a James Bond redux. I'm also not saying the arrogance of the author alone is what turned me off from the read; it was his masturbatory ramblings that frustrated me. I'm not even one to go off on tangents of his line of work. You do what the system allows you to do. Period. I am also not against his settlement. Again, system. But from word jump, everything had a vindictive, uber bro tone that wanted to be in Entourage as opposed to being a true candid recall of events.
February 6, 2024
This is the worst book I’ve read in a long time… Each chapter dragged on in such an amateurish style that one felt it was written by subpar high school student. The actual story wasn’t much better with the author, Birkenfeld, coming across as such a braggadocious fool that I found myself rooting for UBS.
I read this book because I was interested in the story behind the headlines, but I can save you the time and summarize the book: Birkenfeld sued his first employer in Boston and got blackballed in the USA. He then went to grad school in Europe and found another job in banking in Europe. Long story short, he sued that employer as well and then still feeling scorned, sold out his clients and reported everything to the US government.
Save yourself the time and read something else.
I read this book because I was interested in the story behind the headlines, but I can save you the time and summarize the book: Birkenfeld sued his first employer in Boston and got blackballed in the USA. He then went to grad school in Europe and found another job in banking in Europe. Long story short, he sued that employer as well and then still feeling scorned, sold out his clients and reported everything to the US government.
Save yourself the time and read something else.
December 6, 2025
The book is ghostwritten and shows all the dark side of private banking, though Birkenfeld seems to think he was right in the end and just following orders from UBS until he finds they are willing to betray him. He never takes responsibility however.
Birkenfeld, a former UBS private wealth manager, is the individual who broke Swiss bank secrecy by whistleblowing.
He got clients by dividing up their money into declared and undeclared accounts, investing the declared into undeclared account by borrowing and getting a return on the total by keeping the gain in the undeclared account without paying any income, capital gains, or estate taxes. The bank got paid by locking up the money and getting 3% interest along with offering expensive investment products.
Many Americans and other people kept millions in Swiss and Lichtenstein banks, along with other tax havens as detailed in the Panama Papers.
Birkenfeld learns to not trust the DOJ as he believes they are political prosecutors who are trying to defend the elite and gain favors for the politicians in power. Birkenfeld made the mistake in going to them first and not the IRS and SEC.
Birkenfeld, a former UBS private wealth manager, is the individual who broke Swiss bank secrecy by whistleblowing.
He got clients by dividing up their money into declared and undeclared accounts, investing the declared into undeclared account by borrowing and getting a return on the total by keeping the gain in the undeclared account without paying any income, capital gains, or estate taxes. The bank got paid by locking up the money and getting 3% interest along with offering expensive investment products.
Many Americans and other people kept millions in Swiss and Lichtenstein banks, along with other tax havens as detailed in the Panama Papers.
Birkenfeld learns to not trust the DOJ as he believes they are political prosecutors who are trying to defend the elite and gain favors for the politicians in power. Birkenfeld made the mistake in going to them first and not the IRS and SEC.
April 28, 2019
Bradley Birkenfeld's whistleblowing against UBS was an important event on multiple levels. In this autobiographical retelling, he explains what he exposed in the Swiss system of bank secrecy and also what his whistleblowing revealed about the United States Department of Justice. Switzerland is helping non-Swiss people evade taxes in their home countries, and depositors beware because your secrets might not stay secret forever! Regarding the USA, the reader sees how a huge corporation like UBS can influence powerful people everywhere including at the US Department of Justice. As a former international banker myself, I loved the personal tale of Bradley's early career flying around and making deals since this part of a banking career is fun and exciting. However then obviously things turned serious during and following the whistleblowing. The book is excellent and also has a more-or-less happy ending since at least there was some justice and some people got the punishment or reward that they deserved.
January 5, 2025
I generally like this book for talking about corruption in the US and other countries’ tax law enforcing departments, and the general story is great too.
However, this author is the most self absorbed person I’ve ever read, and he comes off as insensitive and creepy multiple times over the course of the book. And then there are multiple chapters of pure self aggrandising. It’s pretty lame, also considering that the point these were trying to make could’ve been made in a couple of sentences instead. I personally only skimmed those. Overall it’s an interesting book but can leave a sour taste in your mouth.
However, this author is the most self absorbed person I’ve ever read, and he comes off as insensitive and creepy multiple times over the course of the book. And then there are multiple chapters of pure self aggrandising. It’s pretty lame, also considering that the point these were trying to make could’ve been made in a couple of sentences instead. I personally only skimmed those. Overall it’s an interesting book but can leave a sour taste in your mouth.
April 2, 2025
I couldn't finish this. As many pointed out he should have left this handled by a journalist or someone who knows how to write. His ego is so inflated that it makes me question his findings. I couldn't get to the good part because 1 hour into the audiobook he's still talking about how great and smart he is.
This book was recommended by one of the guys in our bookclub. I can see why he found this fascinating. Some guys can be so gullible, really. He's not that smart or that kind. He only whistle-blower because he was going to take the fall. A cornered mouse will bite. And that's how he talks in this book, like a mouse who bit and is so proud of it. Eh well, a total skip for me.
This book was recommended by one of the guys in our bookclub. I can see why he found this fascinating. Some guys can be so gullible, really. He's not that smart or that kind. He only whistle-blower because he was going to take the fall. A cornered mouse will bite. And that's how he talks in this book, like a mouse who bit and is so proud of it. Eh well, a total skip for me.
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