Ex-UBS Banker Schumacher Avoids Prison in U.S. Tax Investigation
- Banker pleaded guilty in April and cooperated with prosecutors
- Schumacher testified at trial of ex-UBS banker Raoul Weil
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Former UBS AG executive Hansruedi Schumacher, who pleaded guilty to helping Americans dodge taxes and testified at trial against his former boss, was sentenced to five years of probation by a judge who granted him leniency.
Schumacher, 57, was also fined $150,000 on Monday in federal court in West Palm Beach, Florida, where he pleaded guilty April 2 to conspiracy. Schumacher was indicted in 2009 and declared a fugitive until he surrendered to U.S. authorities last year and chose to cooperate. He testified at trial against his former UBS boss, Raoul Weil, who was acquitted.