Italy police arrest fugitive former Swiss banker Raoul Weil Italian police have arrested Raoul Weil, a former Swiss banker and head of global wealth management at UBS, who was indicted in the US in 2008 for allegedly helping American clients with $20bn in assets to evade US taxes. A police spokeswoman in Bologna said Mr Weil was arrested by the city's flying squad early on Saturday after he registered at a hotel, his name then appearing on a police list of outstanding international arrest warrants. Mr Weil was transferred to Bologna's prison where the next step would be for the US authorities to request his extradition, the spokeswoman said. Mr Weil, 54, was declared a fugitive from justice by the US courts in 2009 following an investigation into offshore banking activities for wealthy US clients at UBS. The Swiss bank at the time pledged its co-operation with the US authorities, while a lawyer for Mr Weil said the indictment was "totally unjustified and without any factual basis." The indictment accused Mr Weil and other bankers of aiding the evasion between 2002 and 2007, helping the Swiss bank gain €200m in revenues from 17,000 US clients. Prosecutors in Miami said in January 2009 that a judge had ordered that Mr Weil be put on a court fugitive list. UBS said: "When Raoul Weil was indicted in 2008 he was immediately released from all his duties at the bank. UBS reached a final settlement concerning the US cross border issue in 2010. Additional reporting by Patrick Jenkins in London