Financial Transparency Coalition

The United States government has asked a judge for leniency with regard to the sentencing of its star UBS-informant, Bradley Birkenfeld, whose sentencing hearing is currently scheduled for Friday. In June 2008, Birkenfeld - the man who infamously detailed how he smuggled diamonds through US customs in a toothpaste tube - plead guilty to one count of conspiracy to defraud the United States. Since then, however, he cooperated extensively with US investigators from a number of agencies, and became an invaluable informant/witness in the US's drawn out legal battle against UBS. From the AP:

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MIAMI - U.S. authorities requested a sharply reduced prison sentence on Tuesday for a key informant in their tax evasion prosecutions of wealthy American clients of Swiss bank UBS.

WASHINGTON - Craig Shaber, an attorney from San Diego was arraigned today before Magistrate Judge Anthony J. Battaglia in that city on charges of conspiracy to defraud the Internal Revenue Service (IRS) and tax evasion for years 2000 to 2002, the Justice Department and IRS announced. On Aug. 14, 2009, Steven Wright, an accountant, pleaded guilty before U.S. Magistrate Judge Jan M. Adler to one count of tax evasion for the 2000 tax year. Wright admitted to evading $387,000 in taxes for 2000 to 2002.

ZURICH (Reuters) - Details of a landmark settlement of the U.S. tax case against Swiss bank UBS are expected this week, which should help the bank restore its image and open the way for the Swiss state to sell its UBS stake.