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US indicts ex-UBS banker for tax evasion services
August 2, 2011 / 4:10 PM / in 6 years

US indicts ex-UBS banker for tax evasion services

FAIRFIELD, Conn., Aug 2 (Reuters) - A former senior UBS UBSN.VX private banker was indicted on Tuesday by federal prosecutors in Florida for selling offshore tax-evasion services to wealthy Americans.

The former banker, Martin Lack, left UBS around 2003 to work at Keusch & Merlo Invest AG, a financial advisory firm in Zurich, according to court papers. He also ran a separate advisory business, Lack & Partner AG, in Zurich.

Lack, a Swiss national who oversaw UBS’s North America business for wealthy Americans hiding money in secret offshore accounts, was charged with one count of conspiracy to defraud the United States.

Lack shared business and office space with Renzo Gadola, a former senior UBS private banker who was indicted last December. Lack’s indictment said that he worked with an unnamed Swiss cantonal bank to help wealthy American clients of UBS further conceal their assets. That bank, federal officials said, is Basler Kantonalbank. (Editing by Howard Goller)

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