Weil parted company with Switzerland’s largest bank in 2009 after being declared a fugitive by the US courts for failing to respond to a criminal indictment issued in 2008. UBS paid a $780 million fine in 2009 after admitting to aiding and abetting US tax evaders.
Several Swiss bankers and lawyers have since been indicted in the US for their alleged part in helping wealthy US citizens hide their assets from the tax authorities.
Weil is one of the most prominent of the accused having moved through the ranks of UBS’s vaunted wealth management business to become chief executive and then chairman of its global wealth management division.
The Florida court indictment accuses Weil of playing a prominent role in helping UBS’s US clients to hide around $20 billion in undeclared assets between 2002 and 2007. The banker has strenuously denied the allegation but has refused to appear before the US courts to answer the charges.