Former UBS executive pleads guilty in U.S. tax evasion probe

April 3, 2015 1:49 AM

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April 2 (Reuters) - Former UBS AG executive Hansruedi Schumacher pleaded guilty to conspiring to defraud the United States by helping wealthy Americans hide their money from tax authorities.

Schumacher, who headed the cross-border business for UBS and also worked for Neue Zuercher Bank (NZB), is a part of the financial industry officials who are being prosecuted for helping Americans evade taxes on UBS and NZB accounts.

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