ZURICH: US officials have arrested a former UBS banker working for the Swiss operations of Coutts, the private banking division of Royal Bank of Scotland Group Plc, sources said. The arrest comes as US authorities crack down on tax evasion and has revived Swiss bankers’ fears that they could face detention if they travel to the United States and are suspected of helping people hide money in offshore accounts.
Coutts notified staff in Geneva on Friday that one of its private bankers had been arrested last week when he entered the US for a vacation, a source familiar with the situation said.
“The Federal Department for Foreign Affairs has knowledge of the temporary arrest of a Swiss citizen in New York and is providing support in terms of consular protection,” the Swiss government said. According to reports, the man was transferred to Miami and fitted with an electronic surveillance bracelet. The reports did not make it clear whether he remains in custody. The man worked with Russian clients for UBS until 2009, and began working at Coutts in 2012. Reuters
