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Former UBS banker gets probation in tax case

By Associated Press
November 19, 2011

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A former banker at Swiss giant UBS AG was sentenced Friday to five years’ probation and no jail time for tax fraud as a reward for helping U.S. prosecutors build other tax evasion cases. Senior U.S. District Judge James Lawrence King agreed that 45-year-old Renzo Gadola deserved leniency for his cooperation, which has led to charges against two former colleagues and at least one banking client.

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