A unit of UBS, UBS Financial Services, has been ordered by a US judge to pay over $4.7m to a customer's former spouse who accused the bank of releasing accounts worth $12m to her ex-husband despite a court order freezing those assets. The woman, identified only as Jane Doe in court, had sued for breach of contract and fraud after she was told that her ex-husband, David Smith, would be able to access his money if he paid $@@
A unit of UBS, UBS Financial Services, has been ordered by a US judge to pay over $4.7m to a customer's former spouse who accused the bank of releasing accounts worth $12m to her ex-husband despite a court order freezing those assets. Puerto Rico lawyer, David Efron and Madeleine Candelario del Moral had been locked in a post-divorce dispute when UBS released the accounts to Efron back in 2007; Efron withdrew all but $1.2m from the account over a nine-month period.