Bradley Birkenfeld pleaded guilty Thursday in a tax conspiracy, saying a large salary and incentives from Swiss banking giant UBS lured him into a scheme to help the bank's wealthiest customers in the U.S. avoid taxes on funds in overseas accounts. The cooperation of the former director of the UBS private banking division promises to lead the IRS to clients such as the one for whom Birkenfeld admitted smuggling diamonds in a toothpaste tube.
Former UBS Division Director Pleads Guilty to Tax Conspiracy
Daily Business Review
June 20, 2008