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November 12, 2008 1:39 PM

UBS official indicted in Florida in tax fraud scheme

The indictment, unsealed in Fort Lauderdale on Wednesday, alleges that between 2002 and 2007, the head of the Swiss bank's cross-border business helped 20,000 U.S. clients conceal $20 billion in assets in secret Swiss bank accounts. The business generated about $200 million annually for the bank

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