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The article reports that U.S. prosecutors have charged UBS AG banker Raoul Weil with helping affluent clients evade federal taxes. The Justice Department alleges that Weil organized a group of private bankers who worked to shield approximately $20 billion in assets from taxation. An ongoing global financial crisis helped dissuade U.S. authorities from indicting UBS AG itself.

The article reports that Bradley Birkenfeld, a former employee of UBS AG, and financial adviser Mario Staggl, have been indicted by the U.S. Justice Department on charges they aided clients in tax-evasion schemes. The two men offered financial services to the extremely wealthy. The case is expected to lead to more indictments, and will damage private banking services, a core business of UBS.

Reports that New York (State) Attorney General Eliot Spitzer, in conjunction with the Securities and Exchange Commission (SEC), has charged a former Bank of America broker, Theodore Sihpol III, with grand larceny and securities fraud; Accompanying charges filed by the SEC against Sihpol for his role in arranging after hours trading for Canary Capital Partners LLC; Speculation as to whether there will be more charges stemming from the arrangement between mutual-fund companies and the hedge fund operating by Canary and its managing principal Edward J. Stern.

The article reports on an indictment in the Swiss tax-evasion investigation involving UBS AG which named former UBS banker Hansruedi Schumacher and Swiss tax lawyer Matthias Rickenbach in the charges. In the indictment filed in a federal court in Miami, Florida on August 20, 2009, Schumacher and Rickenbach were charged with helping businessmen Jeffrey P. Chernick and John McCarthy set up structures in Hong Kong, China in order to conceal U.S. income and the financial transactions in UBS.

The article reports on a new indictment filed against former Refco Inc. CEO Phillip R. Bennett as of November 2006.

Focuses on charges added by the U.S. Justice Department to criminal allegations facing former HealthSouth Corp. chairman and CEO Richard M. Scrushy regarding accounting fraud at the company in 2004.

Reports that New York (State) Attorney General Eliot Spitzer has unsealed a criminal indictment against former Bank of America Corp. broker Theodore Sihpol that included recordings of phone conversations that show Sihpol and a New Jersey hedge fund scheming to make illegal mutual-fund trades. Comments from Spitzer, suggesting similar types of subterfuge were employed in several improper fund-trading scandals involving market timing and late trading; Details of the indictment against Sihpol, including charges of grand larceny, fraud and violation of business law; Excerpts of telephone conversation transcripts between Sihpol and representatives of Canary Capital Partners LLC.

Discusses the expected indictment of Richard M. Scrushy of HealthSouth as one of the first tests for the raft of corporate-governance measures passed in the wake of corporate scandals. Collapse of WorldCom Inc. and Enron Corp. in 2002; Why the get-tough environment hasn't deterred Mr. Scrushy at all; Scrushy's attorneys' belief that he knew nothing about the fraud.

Reports on the decision of prosecutors in Milan, Italy to follow the normal judicial route in trying to secure the indictments of several companies for alleged securities-law violation related to the bankrupt dairy company Parmalat SpA.

Reports on the indictment sought by prosecutors in Milan against the Italian executives of Bank of America Corp., Deloitte Touche Tohmatsu and Grant Thornton International.

Reports on the decision of the Italian prosecutors to request indictments of employees of Parmalat SpA for alleged financial crimes, including its founder Calisto Tanzi, as of March 17, 2004.