(Bloomberg) -- UBS Group is being investigated by the U.S. over whether it helped Americans evade taxes by improperly using securities that let owners conceal their identity, three people familiar with the matter said.
The new investigation, which comes six years after the bank resolved a separate tax-evasion case with the Justice Department, focuses on bearer securities, which can be used like cash, according to one of the people, who like the others, asked not to be identified because the investigation isn’t public.
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