AP/Wire
A former UBS executive is scheduled to plead guilty next month in a U.S. tax case that is part of a wide-ranging probe into whether the Swiss banking giant helped wealthy clients hide assets and evade taxes.
UBS disclosed earlier this month that the U.S. Justice Department is investigating whether the bank was helping clients evade taxes from 2000 to 2007. A senior UBS manager was detained briefly in the U.S. as a material witness, and the bank last November told some private banking clients they would have to travel to Switzerland to speak with their adviser. At the end of March, UBS said U.S. clients had some $704 billion (¤452.7 billion) invested with the bank. More
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