UBS Banker Sentenced in Absence for Selling Offshore Client Data

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A Swiss court has sentenced an ex-employee of UBS for ‘monetary espionage’ for selling over 200 German client’s data to the North Rhine Westphalia tax authorities for close to EUR €1.15 million.

The banker was absent from his trial due to being in Germany and was found to be guilty and was sentenced to 4 years in prison and fined SFR 125,000 (USD €120,000) and was cleared of bank secrecy breaches since his offenses were generally all carried out on German soil.