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article imageSwiss banker wanted by US for helping tax evaders nabbed in Italy

By Anne Sewell     Oct 21, 2013 in Crime
Bologna - Wanted in the USA for allegedly helping wealthy Americans hide €15 billion ($20 billion) from their local taxman, the former top banker was found hiding away in style in a luxury hotel in Bologna.
54-year-old Raoul Weil was arrested by police in Bologna, where he had checked into the luxury hotel under his real name.
This little security slip on his part triggered a police check, as he is on an international fugitive list.
According to a Bologna police spokeswoman, Weil was arrested on Friday, but details were only released on Sunday due to police policy.
She told the media: "He was arrested at the hotel and he is now being held in prison. He did not explain why he was in Italy."
Weil was chairman of the global wealth management service at UBS in Zurich, until he was indicted by a federal grand jury in 2008. It was alleged that he was involved in overseeing the US cross-border tax evasion business.
According to the indictment, Weil supervised the Swiss Bank's overseas activities between 2002 and 2007, servicing some 20,000 clients and it alleges that Weil and his co-conspirators helped US clients conceal some €15 billion (around $20 billion) in assets from US tax authorities.
Weil always denied the charges and was declared a fugitive by the US courts. Now it seems they have finally caught up with him.
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