Arraignment Scheduled for 11am January 7, 2014 In U.S. District Court in Fort Lauderdale
Whistleblower Expresses Concern over Sweetheart Deal that Could Cost U.S. Taxpayers Billions of Dollars
Fort Lauderdale, Florida. January 6, 2014. 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 at 11am on Tuesday, January 7, 2014.
Mr. Weil was indicted based on information provided to the IRS and DOJ by UBS whistleblower Bradley Birkenfeld. A copy of the Weil indictment is attached. The indictment outlines, point-by-point, the validated allegations provided to the U.S. Government by Mr. Birkenfeld in 2007. Weil was the top-boss of the UBS’s illegal “cross-boarder banking business” in the United States.
According to Mr. Birkenfeld’s attorneys, Weil would have extensive knowledge of all of the major U.S. taxpayers who held accounts at UBS, and would have extensive knowledge of the illegal money transfers and fraudulent corporate structures established to help these U.S. Citizens escape paying taxes. Birkenfeld’s attorneys also confirmed that Weil would have knowledge of U.S. citizens who were classified by UBS as “Politically Exposed People.” The UBS PEP program was specially designed to manage illegal accounts held by politicians and other leaders who were politically vulnerable.
“We are extremely concerned that the Justice Department will make a sweetheart deal with Weil that will cost the taxpayers billions of dollars,” said Stephen M. Kohn, one of Mr. Birkenfeld’s attorneys.
“Weil has information that would be extremely embarrassing to wealthy and powerful people in the United States and in other countries. When Birkenfeld first exposed UBS’s criminal offshore program, the Justice Department failed to fully prosecute the head of UBS’s America’s program, Martin Liechti. Liechti (like Weil) was detained in the United States. But the Justice Department botched his case, permitted Liechti to return to Switzerland and fully escape criminal prosecution. The Justice Department cannot be permitted to make the same mistake with Weil, who was Liechti’s boss,” Kohn said.
“Weil knows where all the skeletons are buried, and the Justice Department must work closely with the IRS and the Department of State to make sure that every person guilty of tax evasion in the UBS America’s program are identified and prosecuted. We will be carefully monitoring this case to make sure that the American people are fully protected from another sweetheart deal.” Kohn added.
“Mr. Weil is the keeper of the little black book of millionaires with illegal offshore accounts at UBS. It’s vital that the American government get every name, every address, and every contact that Mr. Weil has related to illegal offshore accounts. When it comes to illegal offshore accounts and the massive amount of information in the possession of Mr. Weil – the government has to be sure and get the whole enchilada and not just be satisfied with chips and dip.” Said Dean Zerbe, counsel for Brad Birkenfeld.
A copy of the Weil indictment is attached.