The prosecution of Swiss banker Raoul Weil served as an example that U.S. justice knew no borders when it came to holding foreign executives accountable for illegally hiding the assets of American taxpayers.
But the acquittal late Monday of the UBS executive—arrested in Italy and brought to Fort Lauderdale for trial—now serves as a blueprint for high-level officials of financial institutions to successfully mount defenses by pointing to underlings as the culprits and washing their hands of any illegal activity.
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