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$10.5 Million Bail for Ex-UBS Banker Weil

Former head of UBS's global wealth management business, arrested in October in Italy, receives bail in tax evasion case.

By David Voreacos, Bloomberg | Updated on December 16, 2013

Raoul Weil, the former head of UBS AG’s global wealth management business accused of conspiring to help Americans evade taxes, was ordered to post bail of $10.5 million before trial, according to a court filing.

Weil, 54, appeared today in federal court in Fort Lauderdale, Florida, for the first time since he was indicted in October 2008 and declared a fugitive. U.S. Magistrate Judge Patrick Hunt said Weil must post a $9 million personal surety bond with a cash deposit of $4 million, as well as a $1 million corporate surety bond and a $500,000 personal surety bond, according to minutes of the hearing.

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