Now the former head of UBS's wealth management division, Raoul Weil, has agreed to be extradited to the US to face charges. US authorities issued an international arrest warrant for Weil in early 2009, just months after he was charged with allegedly conspiring to help 17,000 American clients of Swiss bank UBS avoid taxes.
Weil is currently in jail in Italy, where he was arrested while on holiday with his family five weeks ago.
Remember the other UBS Banker, Bradley Birkenfeld (See our post:IRS awash in whistleblowers after $104M payout!) who became a whistle blower and was awarded a $104 million reward from the U.S. Internal Revenue Service, which set a record for the highest reward ever paid. Birkenfeld, now living in New Hampshire, helped lead the IRS to collect hundreds of millions of dollars in U.S. taxes owed on money stashed in Swiss bank UBS AG, where he once worked.
This may happen all over again, now that Raoul Weil is being extradited to the US?
Contact the Tax Lawyers at
Marini & Associates, P.A.
Read more at: Tax Times blog