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Ex-UBS Banker Martin Lack Is Indicted in Tax Conspiracy Case

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A former UBS AG banker was indicted on a charge of conspiring to help wealthy Americans evade taxes by hiding accounts in a smaller Swiss regional bank.

Martin Lack, a Swiss resident and independent investment adviser, helped U.S. clients hide assets from the Internal Revenue Service through accounts at UBS and the so-called cantonal bank, according to an indictment in federal court in Fort Lauderdale, Florida. That bank, not named in the indictment, is Basler Kantonalbank, according to a person familiar with the matter.