Ex-UBS Adviser Gets 5 Years For Stealing From Clients

Law360, New York (June 9, 2011, 5:44 PM EDT) -- A former UBS financial adviser accused of stealing $5.4 million from clients pled guilty in California federal court Wednesday and agreed to serve more than five years in prison for his financial misdeeds.

According to the U.S. attorney's office for the Northern District of California, Steven Kobayashi pled guilty to one count of wire fraud and one count of money laundering. As part of his plea agreement, he agreed to serve 65 months in prison and pay back $5.4 million in restitution.

Kobayashi admitted to illegally...
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