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Exec at Swiss bank UBS declared fugitive

Exec at Swiss bank UBS declared fugitive

A senior executive with Swiss banking giant UBS AG has been declared a fugitive from justice.
A federal judge in Miami signed the order declaring Raoul Weil a fugitive on Tuesday. His attorneys have stated in the past that Weil is still in Switzerland and has no plans to come to the U.S. He has been charged with conspiring to hide $20 billion in assets from the Internal Revenue Service using secret overseas accounts for thousands of wealthy customers.
The indictment charges that from 2002 to 2007, Weil, as chief of UBS's wealth management business, helped about 20,000 U.S. clients conceal assets in offshore accounts. About 17,000 of the customers hid their identities and their Swiss bank accounts from the IRS and many of them filed false income tax returns.


Updated : 2021-04-19 02:23 GMT+08:00