Tax Cheat Admits To $13M UBS Banking Scheme

Law360, New York (August 4, 2011, 11:56 AM EDT) -- A San Francisco man admitted Wednesday that he filed a false tax return and hid $13 million in UBS AG accounts in Switzerland with the assistance of Renzo Gadola, a former banker with the financial giant who helped Americans dodge taxes.

Robert E. Greeley pled guilty a count of filing a false 2009 tax return and agreed to pay $6.8 million back to the federal government after admitting that, with Gadola's help, he opened two UBS accounts under nominal Cayman Islands-based business names.

The guilty plea...
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