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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.