What was that about the more the things change the more things stay the same? The Swiss may close ranks around one of their own.
The Times (UK): The US could be heading for a legal showdown with the Swiss Government after it emerged that a senior UBS banker who is charged with conspiracy to evade taxes is in Switzerland.
Raoul Weil, the chairman and chief executive of global wealth management at UBS, was indicted by American authorities earlier this week after allegedly helping as many as 20,000 people avoid income tax by hiding their assets.
Last night, a spokesperson for the US Department of Justice (DoJ) told The Washington Post that prosecutors believe Mr Weil is in his native Switzerland. If that is true and Mr Weil refuses to return voluntarily to the US, prosecutors could face an uphill struggle to bring him to trial.
Although Switzerland has a bilateral extradition treaty with the US, the treaty includes a get-out clause allowing Switzerland to refuse to send its own citizens abroad to face criminal charges.
Mark Spragg, an extradition expert at Jeffrey Green Russell, a law firm, said it was unlikely that Swiss authorities would cooperate with an extradition request for Mr Weil.
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