Ex-UBS banker said agreed to plead guilty

A former UBS banker indicted in 2011 on a charge of helping wealthy Americans evade taxes has agreed to plead guilty in Florida, the latest target in a five-year U.S. crackdown.

Bloomberg News reports that Martin Lack, a Swiss resident and independent investment adviser, is set to plead guilty on February 26th in federal court in Fort Lauderdale, according to the records. Lack, who turned himself in to U.S. marshals in Miami on October 14th was released on a $750,000 bond and returned to Switzerland with the consent of the U.S.

'The parties have reached an agreement regarding the disposition of this matter and will be filing a written plea agreement', Lack attorney Peter Raben and Justice Department attorney Mark Daly wrote in a February 4th court filing that sought a date for the guilty plea. A day later, U.S. District Judge William Dimitrouleas set a February 26th date.

Lack’s indictment charges him with conspiring from 1993 until 2010 to help clients hide assets from the IRS through accounts at UBS and a Swiss cantonal bank. 

Hit the link below to access the complete Bloomberg article:

Ex-UBS Banker Lack to Enter Guilty Plea in U.S. Tax Case

BOE Reviewing Allegations It Condoned FX Traders’ Conduct


image: © bloomsberries

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