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Ex-UBS banker avoids prison time in US tax fraud case

Published on May 28, 2014 10:47 AM

NEW YORK (Reuters) - A former UBS AG banker who pleaded guilty to conspiring to defraud the United States by helping wealthy Americans evade taxes was sentenced to five years of probation by a United States judge on Tuesday.

Martin Lack, a Swiss resident, pleaded guilty in February to a single conspiracy count and agreed to cooperate with US prosecutors in a long-running probe into offshore tax evasion.

US District Judge William Dimitrouleas of Fort Lauderdale, Florida, sentenced Lack to five years probation, in keeping with prosecutors' recommendations.

He also required Lack to pay a fine of US$7,500 (S$9,435).

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