UBS Banker Admits To Role In Tax Evasion Scheme

Law360, New York (June 20, 2008, 12:00 AM EDT) -- A former UBS AG banker has admitted helping a billionaire client avoid U.S. taxes by hiding $200 million from the Internal Revenue Service in secret offshore accounts.

Bradley Birkenfeld pled guilty Thursday to one count of conspiracy to defraud the U.S. of approximately $7.2 million in tax revenue — a crime that carries a maximum sentence of five years in jail.

After initially pleading not guilty at his May 13 arraignment in the U.S. District Court for the Southern District of Florida, Birkenfeld changed his plea...
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