An 80-year-old New York man who was once a UBS AG client was sentenced to two years probation for filing false US income tax returns and conspiring to hide $4.9 million at the Swiss bank, federal prosecutors said. Ernest Vogliano, the defendant, pleaded guilty in December to conspiring to defraud the Internal Revenue Service and five counts of filing false income tax returns, and agreed to pay a $940,381 civil penalty, prosecutors said.
He is one of several former UBS clients to be sentenced to prison or probation in the last two years after admitting to hiding money from US tax authorities. "Mr Vogliano is extremely pleased to be getting this matter behind him," his lawyer Richard Albert said. US District Judge Thomas Griesa imposed Vogliano's sentence, according to the office of US Attorney Preet Bharara in Manhattan.
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