Blawg Search - Law Blogs, Lawyer Blogs, Legal Blogs Directory & Search Engine

... . This week, the U.S. prosecution of the former head of UBS AG's wealth management business, Raoul Weil, took a strange turn as he failed to surrender himself and was declared a fugitive. Weil allegedly conspired to help 17,000 American taxpayers conceal approximately $20 billion of assets in Swiss accounts, to avoid payment of U.S. taxes. Weil is not the only person to try to conceal himself from the many ongoing DOJ and IRS investigations into tax fraud, tax ...

... another UBS banker. According to an indictment filed in U.S. District Court in Miami, Raoul Weil, a top global wealth management official with the Swiss banking giant, mandated his ... Here's the WSJ report and here's the indictment. Aaron Marcu, an attorney for Weil, denied the U.S. charges. "Today's indictment is totally unjustified and without ... "We fully intend to fight this indictment and look forward to vindicating Mr. Weil's good name." The UBS accounts hid about $20 billion in assets, according ...

... between government and business. The first story broke on Wednesday. In a press release, the Department of Justice announced the indictment of Raoul Weil, a senior executive of an international Swiss bank, for allegedly conspiring with other persons to assist approximately 20,000 taxpayers conceal $20 billion of assets from the IRS. The indictment charges Weil with ordering his employees to enlarge this line of business, even though he knew it would cause them to ...

... to pay the U.S. Government $105 million as part of a plea agreement. in "Key UBS exec indicted in tax scheme", The Miami Herald reported about the indictment of UBS executive Raoul Weil . Prosecutors allege that Mr. Weil helped about 20,000 U.S. taxpayers conceal approximately $20 ... 24 article "UBS Clients Seek Amnesty on U.S. Taxes", also mentioned Mr. Weil's indictment. It further indicated that, (because of anticipated tax fraud investigations), some UBS clients hiding ...

... clients to close out their accounts, tax experts say. Federal prosecutors have also brought several UBS-related tax evasion cases against individuals in South Florida, including a fraud conspiracy indictment against former UBS senior banker Raoul Weil. Weil's attorney has proclaimed his innocence but he remains in Switzerland and is considered a fugitive by the U.S. Copyright 2009 The Associated Press.

... investors to avoid taxes in the United States may have been located in Switzerland. However, experts have stated that it is unlikely that Switzerland will extradite a Swiss national, an exception which is provided in the bilateral United States-Swiss extradition treaty. "Raoul Weil, the chairman and chief executive of global wealth management at UBS, was indicted by American authorities earlier this week after allegedly helping as many ...

... number of cases of tax fraud under both U.S. and Swiss law." Last month, a senior UBS executive was charged in the United States with conspiring to hide $20 billion in assets from the IRS. The indictment claims that the chief of UBS' wealth management business, Raoul Weil, helped about 20,000 U.S. clients conceal assets in offshore accounts between 2002 and 2007. About 17,000 of the customers hid their identities ...

... in 50 countries nationwide, including the U.S., and has offices across the country. Since 2007, after UBS incurred huge losses, the bank's single largest sharholder has been the Government of Singapore Investment Corporation. Last November, Raoul Weil, Chairman and CEO of UBS' Global Wealth Management and Business Banking and member of UBS' Group Executive Board, was indicted in the Southern District of Florida.