Article: $50K wrapped in newspaper, computer with 2 hard drives, diamonds hidden in toothpaste tube: Trial of former UBS executive dredges up Swiss banks’ shady past

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$50K wrapped in newspaper, computer with 2 hard drives, diamonds hidden in toothpaste tube: Trial of former UBS executive dredges up Swiss banks’ shady past

Reuters, 3 November 2014

From bundles of cash inside scraps of newspaper to setting up shell companies, the trial in Florida of a former UBS executive is a reminder of the extreme methods some Swiss bankers used to hide clients’ cash.

Raoul Weil, 54, is the highest ranking Swiss banker to be arrested in the United States and prosecutors are seeking to paint him as a facilitator of efforts that helped conceal up to US$20 billion in taxpayers’ assets in secret offshore accounts.

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