Tax Evader Pleads Guilty In Sweep Of UBS Clients

Law360, New York (March 11, 2011, 7:11 PM EST) -- One of eight former UBS AG clients snagged in a tax evasion crackdown pled guilty Friday to charges associated with $7.1 million hidden from the Internal Revenue Service using accounts at the Swiss bank.

Jewelry business owner Richard Werdiger, 63, of Purchase, N.Y., entered his plea before Judge Paul G. Gardephe in the U.S. District Court for the Southern District of New York, also agreeing to penalty of more than $3.5 million and yet-to-be-specified restitution.

“I knew it was wrong,” Werdiger said in court on Friday....
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