U.S. federal prosecutors said in a 2008 indictment that Weil and other executives failed to implement effective restrictions to stop UBS’s U.S. clients from evading taxes after the bank agreed in 2001 to identify account-holders and tell the Internal Revenue Service about their income.
Weil, who at the time ran UBS’s wealth management business, resigned and was declared a fugitive by the U.S. government in 2009. UBS said the same year that Weil left to focus on his defense.
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