UBS Racketeering Lawsuit Rejected on Appeal by Second Circuit

A couple who sued the Swiss bank UBS AG and affiliates for creating a paper trail leading to the disclosure of their account and a multi-million dollar tax bill lost their bid to revive their failed lawsuit on appeal.

Jonathan and Esther Zuhovitzky asked the Second Circuit Court of Appeals to overturn a lower court’s dismissal of their suit filed in 2022 under the Racketeer Influenced and Corrupt Organizations Act. The US District Court for the Southern District of New York dismissed the case last year for failure to state a claim.

UBS and several of its affiliates created the ...