Swiss Banker Who Testified Against UBS Exec Avoids Prison

Law360, Miami (October 5, 2015, 6:40 PM EDT) -- A Swiss banker who cooperated extensively in the United States' unsuccessful prosecution of former high-ranking UBS AG executive Raoul Weil received probation and a $150,000 fine Monday in Florida federal court for his role in helping U.S. clients evade taxes.

Hansruedi Schumacher avoided imprisonment and will serve his five years of probation unsupervised in his Swiss homeland after West Palm Beach-based U.S. District Court Judge Daniel T. K. Hurley granted prosecutors' request for leniency on account of the assistance he provided in the Weil case.

Schumacher, former head of the Swiss banking giant's cross-border division, pled guilty in April, just before...

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