12/13/2008 05:12 am ET Updated May 25, 2011

UBS Executive Indicted By Justice Dept

A senior Swiss executive at the banking giant UBS has been indicted in an investigation of the bank and its offshore private banking services for wealthy Americans, federal prosecutors said on Wednesday.

The executive, Raoul Weil, oversaw UBS's lucrative cross-border private banking operations from 2002 to 2007.

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