UBS Exec Indicted in Tax Evasion Probe

A federal grand jury has indicted the CEO of Global Wealth Management at UBS AG for allegedly moving $20 billion out of the United States to evade income taxes for U.S. clients. Swiss citizen Raoul Weil, who also sits on the executive board of the financial services giant, faces one count of conspiracy, according to the indictment returned by a federal grand jury in Florida. UBS said in a statement Wednesday that Weil "has determined that, in the interest of the firm and its clients, and in...Full Story
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