Fort Lauderdale, Florida, US and Zurich, Switzerland (GenevaLunch) – Raoul Weil, UBS head of Global Wealth Management & Business Banking who temporarily resigned from his job in November 2008 has been declared a fugitive from justice by a judge in Fort Lauderdale, Florida, after he failed to appear in court there.
Weil’s lawyers in New York have called fraud charges and the latest move “unjustifiable,” TSR reports. The designation is not likely to have an immediate impact on Weil’s direct participation in the US investigation because Switzerland, like most European countries, does not extradite its own citizens. The Swiss Justice Department Wednesday would not say if a request for Weil’s extradition had been made by American authorities. Ed. note: countries with Anglosaxon legal systems, including the US, will extradite their own citizens under the terms of some treaties, but the process can be long and complex.
Weil resigned from his job in November for the duration of the investigation. The bank has not commented publicly on his new fugitive status.
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Zurich, Switzerland (GenevaLunch) - Raoul Weil, chairman and CEO of UBS Global Wealth Management and Business Banking in the US, has been indicted in Florida by a federal court on charges of tax fraud. The indictment says the banker helped hide assets of about 17,000 US citizens from the Internal Revenue Service.
