Beverly Hillsq 1/5/2010 1:14:46 AM
News / Business

Ex-UBS Banker Ordered to Prison by Jan 8

Finance World News Update by EQUITIES Magazine

The key informant in the US investigation of offshore tax evasion aided by UBS AG, Bradley Birkenfeld, must report to prison by Jan 8 for his 40 month prison term.

 

Birkenfeld sought a postponement of the term imposed August 21 and a new hearing to seek a shorter sentence, saying he would continue cooperating with prosecutors. U.S. District Judge William Zloch denied the request.

 

In an interview yesterday on CBS’s 60 Minutes, Birkenfeld said he didn’t deserve to go to jail when other bankers and clients haven’t.

 

“I gave them the biggest tax fraud case in the world,” Birkenfeld said. “I exposed 19,000 international criminals. And I’m going to jail for that?”

 

In addition, Birkenfeld is also seeking to collect tens of millions of dollars from the IRS under a whistleblower law that rewards those who provide information leading to the recovery of taxes.

 

The case is U.S. v. Birkenfeld, 08-cr-60099, U.S. District Court, Southern District of Florida (Fort Lauderdale).

 

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

Sign up for a free one-year subscription to EQUITIES Magazine