Ex-UBS Client Pleads Guilty In Secret Account Probe

Law360, New York (April 14, 2010, 1:51 PM EDT) -- A former UBS AG client has admitted to hiding assets from the Internal Revenue Service in an offshore bank account, making him the latest in a string of the Swiss bank's former clients to plead guilty to a tax felony, authorities said.

Paul Zabczuk, 55, of The Woodlands, Texas, pled guilty Tuesday in the U.S. District Court for the Southern District of Florida to one count of filing a false tax return, the U.S. Department of Justice said.

Prosecutors said Zabczuk failed to report the UBS...
To view the full article, register now.