(Reuters) - A former banker at giant Swiss financial institutions UBS AG
In a key case in a U.S. government crackdown on offshore tax evasion, Christos Bagios changed his plea to guilty in a court in Florida. He had earlier pleaded not guilty. Lawyers said the change in plea, which had been expected, likely indicated Bagios was cooperating with U.S. authorities.
A Greek citizen and Swiss resident, Bagios worked at UBS from 1999 to 2005. He was a senior banker at Credit Suisse when he was arrested last year and later charged with aiding 150 Americans hide up to $500 million during his time at UBS. (Reporting Kevin Gray and Lynnley Browning; Editing by Kevin Drawbaugh and Gerald E. McCormick)