While UBS offshore business totaled $20 cheap Canada Goose

UBS executive had role in handling U

FORT LAUDERDALE Fla. demands that the Swiss bank disclose secret offshore accounts, UBS former head of cross border business testified on canada goose coats on sale Wednesday. taxpayers hide up to $20 billion in assets in offshore accounts.

Weil, who faces canada goose uk shop up to five canada goose store years in Canada Goose Jackets prison if convicted, is by far the highest ranking Swiss Canada Goose sale banker to be charged in the United States. His trial culminates a more than 7 year battle with Switzerland on the abuse of its bank secrecy laws to help Americans avoid buy canada goose jacket cheap paying canada goose outlet billions of dollars in taxes.

Prosecutors say Weil was fully aware of illegal Canada Goose Outlet offshore operations at Switzerland largest bank and did nothing to stop them.

Weil attorneys blame rogue bankers under him for the illegal activity and said offshore private banking was only a tiny fraction of his job. While UBS offshore business totaled $20 cheap Canada Goose billion in assets, the private banking unit overall manages several trillion globally.

Since 2009, the Justice Department has Canada Goose Parka charged more than 70 taxpayers canada goose clearance and 30 bankers and canada goose clearance sale advisers in the uk canada goose outlet probe, including canada goose factory sale several Swiss bankers canada goose uk outlet who cheap canada goose uk are set to testify at Weil trial. securities gestiontb holders worldwide. securities or have 31 percent of their assets withheld by UBS.

Former UBS banker Raoul Weil is seen in a booking photo after his arrival at the Broward Sheriff’s Office in Fort canadian goose jacket Lauderdale, Florida December 13, 2013. REUTERS/Broward Sheriff’s Office via Reuters

Weil name appeared in canada goose coats several emails between Schumacher and managers outlining ways to deal with the new regulation, according to evidence introduced by prosecutors on Wednesday.

this something you thought he should be aware of? asked prosecutor Jason Poole from the Justice Department tax division.

I did, said Schumacher, who told jurors he met Weil in 1996 and worked at UBS Canada Goose Coats On Sale from the late 1990s until 2002.

Schumacher was indicted in August 2009 in South Florida for helping Canada Goose online Americans evade taxes at UBS buy canada goose jacket and Neue Zuercher Bank (NZB). He was initially declared a fugitive but is cooperating with the Justice Department, court documents show.

Weil was arrested in October 2013 while on vacation with his wife at an upscale hotel in the northern Italian city of Bologna. He canada goose black friday sale pleaded not guilty last year after being extradited to the United States.

The trial, which is being closely watched by international media, is expected to last about four weeks, canada goose according to Judge Canada Goose Online James I. Cohn.

Defense attorney Aaron Marcu has slammed the credibility of government witnesses, including UBS former top private banker for the Americas, Martin Liechti, who uk canada goose was ousted in canada goose uk black friday 2009 after providing evidence to the United States.

Additional reporting by David Adams in Miami, and Joshua Franklin and Katherina Bart in Zurich; Editing by Richard Chang.