MIAMI: Former UBS bank executive Raoul Weil goes to trial in Fort Lauderdale, Florida on Tuesday for allegedly helping thousands of Americans avoid paying taxes by concealing up to $20 billion in secret Swiss bank accounts.
Weil, 54, was the third-highest ranlced executive at the Zurichbased wealth manage-ment giant and was charged by US authorities in 2008. An international arrest warrant was issued in 2009.
If convicted, he faces up to five years in prison for conspiracy to commit tax fraud.
`We are preparing diligently for trial,` said Weil`s attorney, Aaron Marcu.
The United States in recent years has stepped up its pursuit of Swiss banks for their role in aiding tax evasion and increasingly pressured individual bankers. Since 2009, the Justice Department has charged more than 70 taxpayers and 30 bankers and advisers in a probe of offshore activities.