Lawyer fined millions for tax evasion

A disbarred New York lawyer has been fined $9.8 million (SFr8.19 million) after pleading guilty to tax evasion on funds deposited in an account at Swiss bank UBS.

This content was published on June 28, 2011 and agencies

Appearing in a federal court on Monday, the lawyer admitted hiding around $26.4 million in the account.

The account was opened in December 2005 under the name of an offshore company and the money deposited a month later.

He also admitted having transferred the money to the private St Gallen bank Wegelin & Co in 2008 amid fears UBS would reveal his identity during the bank’s dispute with United States tax authorities.

His plea deal calls for up to 37 months in prison. Sentencing will take place on September 27.

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.