Ex-UBS Banker Lack Pleads Guilty in U.S. Tax Case
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Martin Lack became the fourth ex-UBS AG banker to plead guilty to aiding wealthy Americans evade taxes, admitting that for 17 years he helped U.S. clients maintain secret overseas accounts.
Lack, a Swiss resident and independent investment adviser, appeared today in federal court in Fort Lauderdale, Florida, where he was indicted in 2011. He turned himself in to U.S. authorities on Oct. 14, was free on $750,000 bond and was allowed to return to Switzerland.