Former UBS banker pleads not guilty to assisting tax dodging

City A.M. Reporter
A FORMER high-ranking UBS banker charged with helping Americans dodge taxes through secret Swiss bank accounts pleaded not guilty to tax fraud conspiracy yesterday in federal court in Florida.

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 (£12.1bn) in numbered accounts at the bank.

He disputed the charges initially. He was declared a fugitive a few months later, but then was arrested in mid-October on a warrant from Interpol while on vacation in Bologna, Italy.