Raoul Weil was charged in US federal court today with helping 20,000 Americans avoid paying federal income tax by moving their money to offshore UBS accounts and then filing false forms with the IRS.
Context of the story:
Why is this important? The indictment alleges that the 20,000 Americans avoided paying $300 million in taxes each year for six years.
Who is involved? UBS is a Swiss bank. Raoul Weil “was the head of UBS’s wealth management business.” The US government charged him in the Southern District of Florida. The indictment also alleges Mr. Weil was joined in his conspiracy by people who “occupied positions of the highest level of management within the Swiss bank” and by the 20,000 American taxpayers.
Where is this happening? It may be that the taxpayers were spread throughout the US. The indictment was in south Florida.
How can you get involved? Study law. Study accounting, especially forensic accounting. Encourage law makers to make changes in the law that make it harder to commit white collar crime.
