Ex-UBS Worker Guilty of Money Laundering in Data Theft Case, Sentenced to More Than Three Years

Mara Bernath and Hugo Miller report:

A former UBS Group AG employee, who fled the country rather than face trial, was found guilty of money laundering by a Swiss court over allegations of the theft and sale of client data to German tax authorities.

Rene S., as Bloomberg has identified him, was sentenced by a court in Bellinzona, Switzerland, to serve three years and four months in prison. He was cleared, however, of more serious charges of breaking the country’s bank-secrecy rules.

He was accused of stealing details on more than 200 clients — including more than 30 family foundations — that he allegedly sold to German officials, pocketing 1.15 million euros ($1.15 million).

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