MAS issues prohibition orders against ex-UBS banker

Singapore

THE Monetary Authority of Singapore (MAS) has issued prohibition orders against an ex-UBS banker who in 2013 forged letters from foreign law firms to deceive the Swiss private bank into believing that certain UBS clients were tax compliant in their home countries.

In conducting due diligence on UBS's customers as part of his job, the ex-UBS banker Paris Michele also falsified e-mails on background checks on persons dealing with UBS on behalf of other financial intermediaries.