Top UBS Banker Not Guilty Of Tax Evasion, Big Blow To Offshore Crackdown

By Robert W. Wood, Forbes.com

In a big setback to the IRS’s juggernaut against tax evasion and offshore accounts, a former top UBS banker has been acquitted of tax evasion. The U.S. charged Raoul Weil with conspiracy to defraud the U.S. government. The former exec was facing five years in prison and a $250,000 fine, and is the highest-ranking Swiss banker prosecuted in the U.S. crackdown. But now he gets to go home to Switzerland.

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