Petitions for certiorari have been filed in the criminal convictions of John Larson, Robert Pfaff and R.J. Ruble in the massive KPMG-related criminal case which drew fame in an earlier iteration (United States v. Stein before 13 defendants were dismissed for prosecutorial abuse). The Second Circuit summary affirmance of the convictions of Larson, Pfaff and Ruble is here. The petition for John Larson and Robert Pfaff is here. The petition for R. J. Ruble is here..
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Friday, March 4, 2011
Thursday, March 3, 2011
Credit Suisse Advisor / UBS Banker Charged; DOJ Reaches Out to Him
Christos Bagios another Swiss banker has been charged with the Klein / defraud conspiracy (18 USC 371). Bagios worked serially with UBS AG, UBS Swiss Financial Advisors AG and then with Credit Suisse Private Advisors. The charge was made by complaint. (The complaint (with affidavit) is here and is posted with the permission of Tax Analysts). Interesting underlying facts alleged in the affidavit supporting the complaint that, if true, continues to paint a damning, even if predictable, picture for the Swiss banks. The focus of the misconduct alleged relates to Bagios' time with UBS AG and UBS Swiss Financial Advisors AG.
Bagios was arrested earlier. In the hearing on the complaint, the magistrate judge held that there was probable cause to charge Bagios and required a $500,000 corporate surety bond and $150,000 cash bond.
While at UBS, Bagios is alleged to have conspired with Renzo Gadola, who previously pled (see here) and gave incriminating information on Bagios. Kevin Downing is reported to have represented by telephone during the hearing that "Bagios and Gadola worked together in a UBS unit focused on helping American tax evaders." Also reported is that DOJ officials represented that "they had reached out to Bagios to see if he would cooperate with ongoing tax fraud investigations but said he had not responded."
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Bagios was arrested earlier. In the hearing on the complaint, the magistrate judge held that there was probable cause to charge Bagios and required a $500,000 corporate surety bond and $150,000 cash bond.
While at UBS, Bagios is alleged to have conspired with Renzo Gadola, who previously pled (see here) and gave incriminating information on Bagios. Kevin Downing is reported to have represented by telephone during the hearing that "Bagios and Gadola worked together in a UBS unit focused on helping American tax evaders." Also reported is that DOJ officials represented that "they had reached out to Bagios to see if he would cooperate with ongoing tax fraud investigations but said he had not responded."
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Tuesday, March 1, 2011
More on Credit Suisse and Its Enablers
I have previously blogged the recent indictment of 4 Credit Suisse enablers for offshore account skullduggery. (See "More Enablers Indicted", FTCB (2/23/11).) According to a Reuters Legal report here:
1. Mr. Agostini, one of the defendants, shifts the focus to Credit Suisse:
1. Mr. Agostini, one of the defendants, shifts the focus to Credit Suisse:
"I always acted in the name of the bank and according to their instructions," Agustoni told Reuters via telephone.Read more »
"It's not the case that I did anything independently, the bank was always informed and my actions were checked by my bosses," Agustoni said.
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