Prosecutors seek leniency for ex-UBS banker

November 18, 2011 - 4:20 AM

MIAMI (AP) — Federal prosecutors are seeking a lenient prison sentence for a former Swiss banker convicted of tax fraud because of his assistance in uncovering other tax evasion cases.

A judge in Miami will sentence former UBS AG banker Renzo Gadola on Friday. He pleaded guilty in 2010 to tax fraud conspiracy and has been working extensively with prosecutors since then.

Prosecutors are asking the judge to sentence Gadola below the 10-month minimum recommended in sentencing guidelines. They say he helped build cases against former colleagues and bank customers who had secret Swiss accounts.

The case is the part of a broad IRS campaign to identify wealthy tax dodgers. UBS in 2009 agreed to disclose identities of thousands of U.S. clients and paid a $780 million fine for tax evasion.