View more on these topics

Ex-UBS banker faces tax evasion charges, say reports

An ex-UBS banker and Swiss lawyer have been indicted by the US for allegedly helping American citizens hide their money from the IRS, according to the Financial Times.

The newspaper says the men have been indicted as part of the latest crackdown in the USA against thousands of wealthy Americans who have used offshore accounts to evade taxes.

Hansruedi Schumacher, a former UBS banker is alleged to have helped create fake companies to bypass US law. Matthais Rickenbach, a Swiss lawyer, has also been charged for aiding the scheme.

The FT says the pair are also accused of helping US citizens procure false credit cards and bank documents to fool authorities into thinking that their monies belonged to Swiss citizens.

Recommended

Enhanced annuities lead by 22%

Enhanced annuities pay out 22 per cent more income on average than conventional annuities, according to MGM Advantage’s new annuity index which tracks the income paid on both products on a quarterly basis.

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com