Reuters: US UBS client gets three months in jail - Spear's Magazine

Reuters: US UBS client gets three months in jail

MIAMI, Oct 30 (Reuters) – A tax evader turned government informant received a light sentence in Florida on Friday because he cooperated in a high-profile U.S. probe of Swiss bank UBS AG (UBSN.VX).

MIAMI, Oct 30 (Reuters) – A tax evader turned government informant received a light sentence in Florida on Friday because he cooperated in a high-profile U.S. probe of Swiss bank UBS AG (UBSN.VX).

It was the second case this week in which a former U.S. client of the Swiss bank was treated lightly due to the assistance he gave federal investigators.

Jeffrey Chernick, a 70-year-old New York businessman, was sentenced by a federal court judge in Fort Lauderdale, Florida to three months imprisonment followed by one year of probation, a court official told Reuters.

He had initially faced a maximum three years prison term. His lawyers had sought a probation sentence that would have kept him out of jail.

To read the full story, visit reuters.com



 

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