Octogenarian Ex-UBS Account Holder Gets Probation

Law360, New York (September 21, 2010, 7:41 PM EDT) -- A federal judge on Tuesday sentenced a retired watch seller to one year of probation for hiding nearly $42 million in an overseas account held by UBS AG.

Judge Richard J. Howell of the U.S. District Court for the Southern District of New York imposed the sentence against Jules Robbins, an 84-year-old resident of Jericho, N.Y., who had previously agreed to pay a $20.8 million penalty in an earlier plea agreement.

Robbins, who the government says used a sham Hong Kong corporation as the account holder...
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