7 UBS customers hid $100M in Swiss assets: feds

POST WIRE SERVICES
Last Updated: 3:14 PM, April 15, 2010
Posted: 12:42 PM, April 15, 2010

The tax man is coming today -- and he's got handcuffs, too.

Seven customers of Swiss banking giant UBS were charged this afternoon with conspiracy and criminal tax offenses -- accused of hiding a total of $100 million in assets and the income earned on that money from the IRS, authorities said.

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Two of the defendants have agreed to waive indictment in Manhattan federal court -- a step which usually precedes a guilty plea, according to the indictment made public on tax day.

“For the years 2003 to 2007, I filed a false income tax return knowing that it did not mention a UBS account I controlled or any income I earned in that account,â€