National Whistleblowers Center
P.O. Box 25074
Washington, D.C. 20027
FOR MORE INFORMATION, CONTACT:
Mary Jane Wilmoth
FOR IMMEDIATE RELEASE
Whistleblower Fears UBS Banker Raoul Weil
Will Get Sweetheart Deal
UBS Tax Fraud Kingpin Extradited to
United States Faces Hearing Today
Fort Lauderdale, Florida. December 16, 2013. Raoul Weil, the former head of UBS’s Global Wealth Management business is scheduled to appear for a hearing in U.S. District Court in Fort Lauderdale today. He was extradited to the United States from Italy where he was arrested on an international warrant after being indicted for his role in conspiring to violate U.S. tax laws. Weil was the top boss for UBS whistleblower Bradley Birkenfeld, and controlled the international illegal banking schemes worldwide.
As head of Global Wealth Management while Birkenfeld worked at the bank, Weil had responsibility for five international regions for which UBS actively solicited wealthy clients to establish secret and illegal accounts and other fraudulent enterprises that permitted hundreds of billions of dollars to be hidden from local taxing authorities, including the United States. His regions were: Asia, Middle East, Africa, Europe and Americas). Martin Liechti, who was directly responsible for the illegal banking activities that Birkenfeld exposed, was the head of the America’s program, and reported to Weil.
In 2007, UBS banker Bradley Birkenfeld provided the IRS, SEC, U.S. Senate and Department of Justice with unprecedented access to thousands of pages of documents and other information revealing for the first time the international fraud schemes managed by Weil. Birkenfeld’s historic disclosures led directly to Weil’s indictment in 2008 and his eventual arrest by Italian authorities.
In a statement issued today by Stephen M. Kohn, the Executive Director of the National Whistleblower Center and one of Mr. Birkenfeld’s attorneys, Kohn warned that the Justice Department “may give Weil a sweetheart deal that could cost U.S. taxpayers billions of dollars, and set back international efforts to curb corruption.”
Kohn pointed to a highly improper “deal” cut with Martin Liechti, who formally ran the America’s program under Weil’s leadership at UBS. “Liechti was caught red-handed in the United States, but was permitted to plead the ‘Fifth Amendment’ in testimony before Congress, and soon after permitted to leave the United States without having to face justice for his illegal actions in hiding billions of dollars from the IRS,” Kohn said.