UBS Client Gets 2 Years Probation For Tax Fraud

Law360, New York (April 21, 2011, 9:32 PM EDT) -- An 80-year-old New York man who hid $4.9 million from the Internal Revenue Service in a UBS AG account in Switzerland was sentenced to two years probation Thursday.

U.S. District Judge Thomas P. Greisa handed down the sentence in a Manhattan federal court, according to prosecutors. Defendant Ernest Vogliano, who pled guilty to six tax evasion-related counts in December, has already paid a $940,381 civil penalty as part of his plea agreement.

Vogliano is one of seven U.S. taxpayers that U.S. Attorney Preet Bharara charged after...
To view the full article, register now.