Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

UBS banker arrested in Italy luxury hotel

Share this article

UBS banker arrested in Italy luxury hotel
Photo: Roland zh/Wikicommons
08:44 CEST+02:00
A former top executive at Swiss banking giant UBS wanted in the United States for allegedly helping wealthy Americans hide €15 billion from the taxman has been arrested in Italy, police said on Sunday.

Raoul Weil, 54, had been staying in a luxury hotel in the city of Bologna where he checked in under his real name, triggering a police check because he is on an international fugitive list.

"He was arrested at the hotel and he is now being held in prison. He did not explain why he was in Italy," a spokeswoman for Bologna police said.

The officer said the arrest took place on Friday but explained that details of the case were only being released on Sunday because of police policy.

Weil, who was chairman of the global wealth management service at UBS in Zurich, was indicted by a federal grand jury in 2008 for his alleged role in overseeing the US cross-border business.

The Swiss national always denied the charges and had been declared a fugitive by the US courts.

According to the indictment, between 2002 and 2007, Weil supervised the Swiss bank's overseas activities that serviced some 20,000 customers.

The indictment alleges Weil and co-conspirators helped US customers conceal around €15 billion in assets from tax authorities.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

The Swedish university tackling the challenges of tomorrow

Ranked among the world's best young universities in the QS Top 50 Under 50, Linköping University (LiU) uses innovative learning techniques that prepare its students to tackle the challenges of tomorrow.

Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement