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To: long-gone who wrote (77455)	9/26/2001 8:31:22 AM
From: long-gone	Read Replies (1) \| Respond to of 117005

Tuesday September 25, 5:12 pm Eastern Time NY banker charged with stealing $70 million from clients NEW YORK, Sept 25 (Reuters) - A banker with Union Bank of Switzerland in New York City was arrested on Monday night on charges he allegedly stole about $70 million from his clients' accounts, law enforcement officials said. Hanspeter Walder, who worked for UBS for 43 years and dealt with wealthy customers, allegedly used forged papers to get the Swiss bank to extend loans worth a total of about $50 million to about 12 clients without their knowledge or approval, the U.S. Attorney's office said. He allegedly did this over a seven-year period. Walder, 58, then allegedly transferred proceeds of some of the loans to accounts he controlled, and used proceeds from some loans to make loan payments due on other fraudulently obtained loans to conceal the ongoing fraud, officials said. Walder, a resident of Tarrytown, New York, also allegedly stole about $20 million from about 2 other clients' accounts at UBS by transferring the money to accounts he controlled, the complaint charged. UBS in August noticed an irregularity in an account serviced by Walder and confronted him, according to testimony from a Federal Bureau of Investigation agent. UBS questioned him further about the accounts starting last week and has been cooperating with the probe, the attorney's office said. If convicted of bank fraud, Walder faces a maximum sentence of 30 years in jail and a fine of $1 million. He is scheduled to go before a U.S. Magistrate Court in Manhattan on Tuesday. biz.yahoo.com