* * * DOJ officials contacted UBS on Nov. 12 to inform it that Raoul Weil, UBS’s global head of wealth management, was being indicted, sparking fear that Chief Executive Marcel Rohner and Chairman Peter Kurer would be next.That got their attention.
I suppose that, had those executives been indicted, they would have used the Prince/Rubin defense (see here) -- we just did not know. If they did not know, it is fair to say that their ignorance would have been willful, which, of course, means that they did know.
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