(Bloomberg) -- Martin Lack, the fourth ex-UBS AG banker to plead guilty to aiding wealthy Americans in evading taxes, avoided prison for a 17-year scheme in which he helped U.S. clients maintain secret overseas accounts.
Lack, a Swiss resident and citizen and an independent investment advisor, was sentenced to five years of probation and fined $7,500 today in federal court in Fort Lauderdale, Fla., where he was indicted in 2011. He surrendered to U.S. authorities on Oct. 14 and pleaded guilty on Feb. 26, when the judge said he was cooperating with prosecutors.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access