UBS Exec Charged With Tax Conspiracy

Law360, New York (November 12, 2008, 12:00 AM EST) -- The U.S. Department of Justice and the Internal Revenue Service have charged Raoul Weil, the CEO of the global wealth management and business banking division at UBS AG, with perpetrating a tax fraud that helped U.S. taxpayers conceal assets from the IRS.

Weil was indicted Thursday in the U.S. District Court for the Southern District of Florida and could face five years in prison and $250,000 in fines if convicted.

"Professionals, including bankers, who promote fraudulent offshore tax schemes against the United States, will be held...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.