04/30/2009 05:12 am ET Updated May 25, 2011

Martin Liecht Ouster From UBS

UBS, the Swiss bank under a growing federal investigation for tax fraud, has forced out the executive formerly in charge of secret offshore accounts for wealthy Americans, the bank said Sunday.

The banker, Martin Liechti, was placed on paid leave, Dominique Gerster, a spokesman for UBS who is based in Zurich, said Sunday.

Read more on New York Times