David Adams, Florida judge grants $10.5 million bail for ex-UBS banker (Reuters 12/16/13)., here.
Key points from the article are:
- Weil waived extradition.
- Through his lawyer, Weil asserts his innocence and intent to enter a not guilty plea.
- Weil was released to stay with friends in New Jersey " after putting up the bond, which included $9 million in a personal surety by Weil, $500,000 from the New Jersey family and the other $1 million a corporate surety bond signed with a bail bondsman." He is on electronic surveillance and did surrender his passport.
- Weil oversaw $4 trillion in assets at UBS, Marcu said. "He rose from being a bit of a technocrat and demonstrated that he could run a bigger business.""
- Although Weil's lawyer denied that Weil is in negotiations with the prosecutors "at this time" (seemingly meaning right then, but not in the past or in the future) the article reports on speculations about Weil getting a sweetheart deal that will effectively buy his silence on the Swiss banking / tax evasion sins of prominent U.S. political figures. From my experience, speculations should be viewed skeptically. There will be time enough to react to real facts as they develop.
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