tax charges

Emilio Botín, the chairman of Banco Santander, and 11 of his relatives have become the subject of a huge investigation into tax evasion.

A former Nike executive and his wife have been sentenced in Oregon to three years of probation after pleading guilty to federal tax charges involving income from a South Korean footwear manufacturer.

ADC (NASDAQ: ADCT) 13.9% LOWER; announced unaudited results for its two-month fourth quarter ended September 30, 2009.

As previously announced, ADC changed its fiscal year end to September 30 from October 31. The company reported fourth quarter revenue of $183.9 million and GAAP loss from continuing operations of $19.2 million, or $0.20 per share.

The GAAP loss includes certain after-tax charges of $25.5 million. Excluding these charges, the non-GAAP (adjusted) net earnings for the quarter were $6.3 million, or $0.06 per share.

The move opens a new front in Washington’s crackdown on Switzerland’s tradition of bank secrecy.

Another client of Swiss bank UBS AG has pleaded guilty to U.S. tax charges in Florida.

A Manhattan jury has convicted four current or former Ernst & Young partners on criminal tax shelter charges.