Bradley Birkenfeld, in a gray pinstripe suit and with a polite demeanor and upper-class accent, exuded the persona of international banker as he stood in front of a Fort Lauderdale, Fla., judge Thursday to plead guilty in a tax conspiracy. Birkenfeld told U.S. District Judge William Zloch that a large salary with incentives from Swiss banking giant UBS lured him into a scheme to help the bank’s wealthiest customers in the United States avoid taxes on funds in overseas accounts. At one point, he even smuggled diamonds in a toothpaste tube for a client, according to his confession detailed in a court document.

He has an incentive to cooperate: trimming time from a federal prison sentence. His cooperation promises to lead the Internal Revenue Service up the chain at UBS and to clients who benefited from his commitment to saving them millions of dollars in tax liability.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]