Ex-UBS, Credit Suisse Banker Bagios Set to Change Plea
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Christos Bagios, a former banker at UBS AG and Credit Suisse Group AG who was arrested in January 2011 amid a U.S. crackdown on offshore tax evasion, is scheduled to change a not guilty plea he entered today, according to court records.
Prosecutors charged Bagios last year with helping 150 American clients hide as much as $500 million from the Internal Revenue Service when he worked at UBS, where he spent 15 years before joining Credit Suisse in 2009.