Google – AFP, 20 October 2013
A logo of
the Swiss banking giant UBS is seen above blinds drawn at its
main headquarters
on October 15, 2011 in the center of Zurich (AFP/File,
Fabrice Coffrini)
|
Rome — A
former top executive at Swiss banking giant UBS wanted in the United States for
allegedly helping wealthy Americans hide $20 billion (15 billion euros) from
the taxman has been arrested in Italy, police said Sunday.
Raoul Weil,
54, had been staying in a luxury hotel in the city of Bologna where he checked
in under his real name, triggering a police check because he is on an
international fugitive list.
Mr Weil was
the head of global wealth
management at Zurich-based UBS
Picture:
Supplied
|
The officer
said the arrest took place on Friday but explained that details of the case
were only being released on Sunday because of police policy.
Weil, who
was chairman of the global wealth management service at UBS in Zurich, was
indicted by a federal grand jury in 2008 for his alleged role in overseeing the
US cross-border business.
The Swiss
national always denied the charges and had been declared a fugitive by the US
courts.
According
to the indictment, between 2002 and 2007, Weil supervised the Swiss bank's
overseas activities that serviced some 20,000 customers.
The
indictment alleges Weil and co-conspirators helped US customers conceal around
$20 billion (15 billion euros) in assets from tax authorities.
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