Former UBS exec pleads not guilty

American courtroom

A former high-ranking UBS banker charged with helping Americans dodge taxes through secret Swiss bank accounts pleaded not guilty on Tuesday to fraud conspiracy charges linked to a U.S. tax evasion investigation that shook Swiss banking to the core.

Reuters reports that Raoul Weil, a 54-year-old Swiss citizen and former head of global wealth management at UBS, was charged five years ago with conspiring to help thousands of Americans conceal $20bn in numbered accounts at the bank.

He disputed the charges initially and was listed as a fugitive from U.S. justice until his arrest in mid-October in Bologna, Italy.

Weil's appearance in federal court in Fort Lauderdale on Tuesday was his second since he was extradited last month. He was granted a $10.5m bond, pending his arraignment at his first court hearing on December 16th.

To access the complete Reuters article hit the link below:

Ex-UBS bankers pleads not guilty in major tax fraud case

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