Prosecutors Look To Dismiss UBS Tax Case

Law360, New York (October 22, 2010, 7:15 PM EDT) -- U.S. prosecutors are seeking to dismiss a criminal tax evasion case against UBS AG more than a year after the Zurich-based bank agreed to pay a fine of $780 million and hand over information on clients suspected of skipping out on paying taxes.

Prosecutors lodged a filing in the U.S. District Court for the Southern District of Florida on Friday that indicated UBS had met several conditions in an 18-month deal to defer prosecution.

Prosecutors said UBS’ U.S. cross-border business provided private banking services to about...
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