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Ex-UBS employee faces 4 years in prison following court no-show

Swiss prosecutors have asked for a four-year jail sentence for a former UBS Group AG employee accused of stealing client data and selling it to German tax authorities, Bloomberg News reported.

The move came after the man, who was charged with commercial espionage, violation of Swiss banking secrecy and money laundering by the Swiss Federal Criminal Court, failed to appear in court to face trial. Violation of Swiss banking secrecy carry a penalty of a maximum of five years in prison, according to the Jan. 9 report.

A final verdict on the case is scheduled for Jan. 21.