MIAMI AP – A senior executive with Swiss banking giant UBS AG was charged in a federal indictment unsealed Wednesday with conspiring to hide $20 billion in assets from the Internal Revenue Service using secret overseas accounts for thousands of wealthy customers.
Raoul Weil, chief executive officer of a UBS division handling cross-border business and private banking, is charged with one count of conspiring to defraud the U.S. through income tax evasion. But the indictment also says other UBS executives at high levels of the company took part in the conspiracy.
