After 2 weeks in the court case of Raoul Weil, former UBS no3, the jurors of the Federal court in Florida followed the defense when they said “There’s no evidence in this case that Mr. Weil knew and much less participated in activities by low-level bankers who were violating the bank’s own policies” reports Bloomberg.

Raoul Weil was indicted in 2008 on a charge of conspiring to help as US taxpayers hide assets from the IRS. His trial began October 14, 2014. He faced up to 5 years in prison and a fine of $250k, before being acquitted today.

The verdict was also reported by the Swiss television, RTS.