Ex-UBS Banker Schumacher Pleads Guilty in U.S. Tax Probe

By Susannah Nesmith and David Voreacos, Bloomberg.com

Former UBS AG executive Hansruedi Schumacher pleaded guilty to conspiracy to defraud the U.S. as part of the government’s prosecution of financial industry officials who help Americans dodge taxes.

Schumacher, 56, entered his plea Thursday in federal court in West Palm Beach, Florida.

Schumacher, who also worked at Neue Zuercher Bank and once ran the cross-border business for UBS, was indicted in August 2009 on a charge of helping U.S. citizens evade taxes on UBS and NZB accounts.

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