Swiss banker arrest may be tip of iceberg

The arrest of former UBS wealth management boss Raoul Weil in Italy at the weekend has sent out a stark message that there is no place to hide from United States prosecutors seeking payback for years of Swiss-sponsored tax evasion.

Weil is the biggest fish among a number of bankers and lawyers previously indicted by the US courts, some of whom have already taken their punishments while others remain hiding in Switzerland. But there are fears that the list of prosecutions against individuals could grow despite a Swiss-US deal in August that...