We previously posted "Raoul Weil the Ex-UBS Banker Is Coming To America to Rat You Out!...Contact M&A Immediately!" where we discussed that the former head of UBS's wealth management division, Raoul Weil, has agreed to be extradited to the US to face charges.
US authorities issued an international arrest warrant for Weil in early 2009, just months after he was charged with allegedly conspiring to help 17,000 American clients of Swiss bank UBS avoid taxes.
We also discussed that another UBS Banker, Bradley Birkenfeld (See our post:IRS awash in whistleblowers after $104M payout!) who became a whistle blower and was awarded a $104 million reward from the U.S. Internal Revenue Service and this may happen all over again, now that Raoul Weil is being extradited to the US
Well it now appears fairly obvious that he has Cut A Deal with the IRS, since a Florida judge granted him $10.5 million bail today Monday December 16, 2013. Weil appeared in shackles and a gray prison jumpsuit three days after he was extradited from Italy. He did not enter a plea and his arraignment was postponed until January 7.
U.S. Magistrate Judge Patrick Hunt agreed to let Weil stay with friends in New Jersey after putting up the bond, which included $9 million in a personal surety by Weil, $500,000 from the New Jersey family and the other $1 million a corporate surety bond signed with a bail bondsman.
If convicted, he faces up to five years in prison for conspiracy to commit tax fraud.The judge ordered Weil be placed on a GPS monitoring system and surrender his passport.
The fact that Weil bonded out, may be an indication that he is in the process of making a deal with prosecutors.