Switzerland's prosecutor said it is investigating former UBS banker Renzo Gadola, who received a light sentencing in the U.S. two years ago in return for becoming a informant on wealthy American tax cheats.
The investigation centers on industrial espionage, according to Swiss media, and it raises the spectre of more Swiss bankers who have cooperated with foreign officials being pursued by prosecutors for violating the country's strict banking secrecy laws.
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Gadola, who was not immediately available for comment, would be the first Swiss banker to be pursued in Switzerland on charges of industrial espionage for the United States over the tax spat, although Swiss authorities have charged other bankers for passing on confidential files to Germany.
Almost immediately after his arrest in 2010, Gadola started cooperating with U.S. officials, providing insight into other bankers and Swiss financial institutions offering offshore banking services, according to prosecutors at the time of his sentencing in 2011.
He turned over fellow bankers' names and participated in recorded conversations with clients, according to a document released in the run up to his sentencing.
That cooperation entailed disclosing to U.S. prosecutors for the first time the role of Swiss cantonal banks, including Basler Kantonalbank, in helping Americans to evade U.S. taxes on at least hundreds of millions of dollars in assets.
Gadola, who continued to cooperate as a condition of his probation, was in 2011 sentenced to five months' probation from a Florida federal judge and a fine of $100.