UBS client pleads guilty to tax fraud in US
A UBS client charged with evading United States tax pleaded guilty in a Florida court on Tuesday.
He faces up to three years in prison and $250,000 (SFr285,775) in fines.
Robert Moran, a yacht company executive, was the first UBS client to plead guilty. A second US citizen is scheduled to answer similar charges next week.
Prosecutors said Moran failed on his 2007 US tax return to report his interest in a UBS account. The accountant met frequently with UBS bankers at his home and at hotels.
UBS admitted in February that it had helped US clients conceal assets from their government in order to avoid taxes.
The bank paid a $780 million fine, and disclosed the names of some of the clients involved. The bank is resisting pressure to hand over the names of some 52,000 further US clients holding secret accounts.
swissinfo with agencies
More
No house generation: the impossibility of buying property in Switzerland
More
Online quarrel reveals Swiss life of luxury of Cameroon’s ruling family
More
UK and Switzerland open way for direct rail link
More
Cross purposes: the unique Swiss flag
More
Activist takes on Swatch maverick as Omega empire falters
In compliance with the JTI standards
More: SWI swissinfo.ch 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 english@swissinfo.ch.