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Litigation

Apr. 12, 2012

Billionaire's civil suit against bank tossed

A federal judge in Santa Anna dismissed civil claims brought by real estate billionaire Igol Olenicoff seeking $1.8 billion in damages from Swiss Bank UBS.

By Sean Windle

Daily Journal Staff Writer

A federal judge in Santa Anna dismissed civil claims brought by real estate billionaire Igol Olenicoff seeking $1.8 billion in damages from Swiss Bank UBS for allegedly advising him to commit tax evasion.

U.S. District Judge Andrew Guilford on Tuesday finalized his earlier tentative ruling, which pointed to the fact that Olenicoff and UBS both admitted to tax fraud in seperate criminal proceedings. For that reason, Olenicof...

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