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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!