Miami A former UBS senior banker who helped the U.S. government extends its crackdown against offshore tax evasion has been sentenced to five years probation to advise on how wealthy Americans hide their money from the IRS. Renzo Gadola, who worked at the Swiss bank UBS AG from 1995 to 2008, pleaded guilty in December to charges of conspiracy to defraud the United States.Almost immediately after his arrest, November 8, 2010, Gadol began cooperating with U.S. officials, providing a key element in other Swiss bankers and financial institutions that offer offshore banking services, according to prosecutors.
U.S. authorities, who suspect that tens of thousands of Americans have used Swiss banks to avoid paying billions of tax dollars, are conducting a criminal investigation into scores dig Swiss banks and international banks with operations in Switzerland. The banks under investigation include Credit Suisse, HSBC Holdings Plc and Basler Kantonalbank, a major Swiss bank cantonal or regional level, judicial sources said the United States. Cantonal banks are largely owned by the Government of Switzerland.
Gadola gave the names of bankers, and participated in conversations with customers, according to the government presented a document unsealed last week, asking for clemency for his beliefs. His actions have helped to reveal for the first time the role of Swiss cantonal banks play in the dark, off-shore accounts of the company.
Gadola central role in the repression continues. He had "indicated their willingness to continue to cooperate with the government after he was convicted, and to help each other, the investigation of the grand jury and witnesses during the studies of his former clients and colleagues, if necessary," the document the government. Gadola 45-year-old could be sentenced to a maximum of 16 months in prison. It 'appeared in court wearing a dark-gray suit and judge his blue-striped ties.
The case against Gadola, investment advisor based in Switzerland, noted that some of the bankers to help wealthy Americans hide money from the Internal Revenue Service (IRS), even in the midst of the U.S. probe into UBS, which spread in a major international legal and diplomatic documents
