Raoul Weil, the chairman and CEO of the global wealth management and business banking division at UBS, has been indicted by a federal grand jury on charges that he helped US taxpayers avoid income taxes on assets in overseas accounts. According to the indictment, Weil and other UBS bankers used encrypted laptops and other counter-surveillance techniques to assist US clients in concealing their identities and nearly $200bn (£135bn) in offshore assets from US authorities. The indictment claims that Swiss bankers who reported to Weil routinely travelled to the US to discuss Swiss bank accounts with current and prospective clients. Between 2002 and 2007, these activities allegedly generated nearly $200m (£135m) in cross-border business for UBS.
November 13, 2008 at 12:52 AM
1 minute read
The original version of this story was published on Legalweek
Raoul Weil, the chairman and CEO of the global wealth management and business banking division at UBS, has been indicted by a federal grand jury on charges that he helped US taxpayers avoid income taxes on assets in overseas accounts.
According to the indictment, Weil and other UBS bankers used encrypted laptops and other counter-surveillance techniques to assist US clients in concealing their identities and nearly $200bn (£135bn) in offshore assets from US authorities.
Presented by BigVoodoo
Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures.
The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.
The premier educational and networking event for employee benefits brokers and agents.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
