A client of UBS has pleaded guilty to tax evasion and could face jail and a
Robert Moran, the president of Florida Yacht broker Moran Yacht & Ship,
pleaded guilty to filing a false income tax return, concealing more than $3m ()
in assets in a secret UBS bank account in Switzerland.
Judge Cohn scheduled sentencing for 26 June, and Moran faces a maximum
sentence of three years in prison and a maximum fine of $250,000.
In February UBS entered into a deferred prosecution agreement in which the
bank admitted to helping US taxpayers hide accounts from the IRS.
As part of their agreement, UBS agreed to provide the U.S. government with
the identities of, and account information for, certain US customers of UBS’s
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HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live