Former UBS Exec Extradited To US Over Tax Shelter Charges

Law360, New York (December 13, 2013, 5:07 PM EST) -- A former UBS AG wealth management and banking head who allegedly helped U.S. taxpayers conceal their assets from the Internal Revenue Service was reportedly extradited from Italy to the U.S on Friday to face a criminal lawsuit.

Swiss banker Raoul Weil was declared a fugitive months after U.S. authorities indicted him in 2008 for allegedly hiding a massive tax conspiracy that provided offshore tax shelters to about 20,000 U.S. citizens with assets totaling $20 billion.

"Professionals, including bankers, who promote fraudulent offshore tax schemes against the...
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