Ex-UBS CEO to Pay $4.9 Million for Not Reporting Swiss Accounts

Former UBS North America CEO Markus Rohrbasser agreed on Friday to pay more than $4.9 million to the IRS for failure to report his interest in foreign bank accounts over an 11-year span.

The proposed stipulated judgment filed with the the US District Court for the District of Connecticut would find in favor of the IRS for failure to timely file Reports of Foreign Bank and Financial Accounts from 2003 to 2013. The proposed judgment amount includes both late-payment penalties and interest.

• Rohrbasser, former CEO of UBS North America in New York, was accused of concealing his Swiss bank accounts ...