Christos Bagios, the former banker at UBS AG and Credit
Suisse Group AG (CSGN) who was arrested in January 2011 amid a crackdown on
offshore tax evasion, may not leave Florida to visit Switzerland and Greece, a
U.S. judge ruled, according to Blomberg's best.
U.S. Magistrate Judge Lurana S. Snow yesterday denied a bid
by Bagios, 45, to modify his bail and visit his family in Switzerland and his
ailing mother in Greece. Prosecutors charged him with helping 150 American
clients hide as much as $500 million from U.S. tax authorities when he worked
at UBS, where he spent 15 years before joining Credit Suisse in 2009.
Lawyers for Bagios, who is free on $650,000 bail, said he
has an “impeccable record” of complying with terms of his release, and he would
return. Prosecutors argued that Bagios faces five years in prison and he might
flee because he has no incentive to return to Florida…..
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