Leniency for key UBS witness
We'll see what the judge rules. Recall that more judges are taking a skeptical view of deals cut by banks and prosecutors. The Bank of America SEC settlement was at least delayed. And another judge decided to put Bernard Madoff's CFO in jail, against the wishes of prosecutors, who relied on him heavily to understand the Madoff scandal.
So where does this leave Bradley Birkenfeld? The ex-UBS employee faces up to five years imprisonment after pleading guilty to aiding an attempt to hide $200 million from tax authorities, but he cooperated and helped prosecutors crack the larger scheme. Prosecutors have asked that his sentence be cut to two and a half years in jail. We'll see. He'll be sentenced Friday.
For more:
- here's the article
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