Raoul Weil, the former head of UBS’s global wealth management business accused of helping wealthy Americans dodge taxes via secret Swiss accounts, is expected to plead not guilty in federal court in Florida.
"Weil will appear in court in Fort Lauderdale and intends to plead not guilty," said Aaron Marcu, lead attorney for Weil.
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"We look forward to presenting our case in court, where we expect Weil to be exonerated," he added.
US prosecutors allege that Weil oversaw schemes that helped 17,000 American clients with US$20 billion in assets, systematically evade taxes between 2002 and 2007.
Weil was indicted based on information provided to the IRS and DOJ by UBS whistleblower Bradley Birkenfeld.
Weil was extradited to the US from Italy in October last year. He is free on US$9 million bail.
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By GlobalDataIf convicted, he will face up to five years in prison for conspiracy to commit tax fraud.
Previously, UBS managed to avoid legal action by paying penalties of US$780 million and disclosing the details of nearly 4,500 accounts of US clients.
