Broker gets prison in UBS tax probe

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Broker gets prison in UBS tax probe

By Associated Press

November 6, 2009 12:23 pm ET

A Florida yacht broker has been sentenced to two months in prison for a tax conviction stemming from the U.S. investigation of secret accounts at Swiss bank UBS AG.

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British-born Robert Moran faced more than a year in prison Friday, but had asked for probation because he helped prosecutors.

U.S. District Judge James I. Cohn said the crime deserved some time behind bars.

Moran, who is also a U.S. citizen, is the third former UBS client to be sentenced in South Florida's federal court in the past two weeks. The 58-year-old pleaded guilty in April to filing a false tax return. Prosecutors said he used UBS accounts to conceal some $3 million.

UBS is turning over hundreds of names of suspected American tax cheats in a deal with the U.S. Justice Department.