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Former UBS banker charged with conspiracy

A former UBS banker who now works for Credit Suisse has been charged in a Florida court with conspiracy for helping wealthy US citizens avoid income taxes.

This content was published on March 2, 2011 - 11:44
swissinfo.ch and agencies

The Greek citizen is accused of having had up to 150 undeclared US clients with assets under management of between $400 million (SFr370 million) and $500 million. The charges relate to dealings between 1999 and 2005.

A criminal complaint filed with the Florida federal court accuses the banker of marketing “undeclared Swiss bank accounts and Swiss bank secrecy to wealthy United States clients who were interested in attempting to evade United States income taxes”.

The charges rely heavily on the testimony of another former UBS banker, a Swiss citizen, who pleaded guilty to similar charges in a Miami court in December.

The man was arrested in New York on January 26. The complaint against him has no direct connection to a case involving four current and former Credit Suisse bankers who were charged last week with helping US citizens avoid taxes.

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