Raoul Weil, the former head of UBS AG’s global wealth management business, was granted $10.5 million bail after appearing in a U.S. courtroom for the first time to face charges that he helped Americans evade taxes.
President Barack Obama plans to choose a new acting commissioner of the Internal Revenue Service this week as the first congressional hearings begin into the agency’s selective scrutiny of small-government groups, according to an administration official.
AIJ Investment Advisors Co. President Kazuhiko Asakawa said he ordered the falsification of fund performance reports in the hope the Japanese asset manager could recoup losses that may exceed $1 billion.
A 79-year-old widow who pleaded guilty in the largest individual case since a U.S. crackdown on offshore tax evasion began received less than a minute of probation from a judge who scolded prosecutors.
The friend of the former KPMG LLP partner in Los Angeles who allegedly provided him with insider information about the auditor’s clients agreed to plead guilty and to pay about $1.3 million in illegal profits, the U.S. said.