NightBlogger

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

Greg Sandoval
CNET
For the first time ever, the federal government has successfully won a jury verdict against someone accused of illegally downloading unauthorized songs recordings, according to a statement from the U.S. Department of Justice. A jury in Alexandria, Va, found Barry Gitarts, allegedly a member of Internet music piracy group, Apocalypse Production Crew, guilty for conspiracy to commit criminal copyright infringement.

Gitarts faces up to five years in prison, a fine of $250,000 and must make full restitution, according to a statement from the U.S. Attorney’s office. The Recording Industry Assoc. of America (RIAA) applauded the jury verdict. Read more

McLEAN, Virginia - A New Orleans furniture salesman pleaded guilty Tuesday to spying for the Chinese government and providing Beijing with secret information on military relations between the U.S. and Taiwan.

Tai Shen Kuo, a naturalized U.S. citizen with prominent family connections in Taiwan, provided gambling money and promises of a job to a Defense Department analyst who gave him classified information in 2007. Taiwanese military officials have said the disclosures caused some damage but did not compromise key technology.

Kuo, 58, faces up to life in prison when he is sentenced Aug. 8. Lawyers for the Taiwan native said after the hearing they believe he faces a prison term up to nearly 16 years under federal sentencing guidelines. Read more