Tax-Dodging UBS Client Avoids Jail

Law360, New York (January 7, 2010, 2:06 PM EST) -- A client of UBS AG who cooperated with a high-profile tax-evasion probe was sentenced to five years of probation and 300 hours of community service after he admitted to hiding more than $6 million with the Swiss banking giant to dodge U.S. tax liabilities.

The sentence, handed down by Judge Stanley R. Chesler in the U.S. District Court for the District of New Jersey on Wednesday, also ordered Juergen Homann to pay a $60,000 fine and make restitution to the U.S. Internal Revenue Service.

Homann, 67,...
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