“Holy crap!” That’s how Craig Price, a UBS AG senior vice president, told securities regulators he reacted when he saw the $2,600 tab for a client-development dinner he attended at an upscale Palm Beach restaurant. It wasn’t the size of the bill that stunned him. It was who paid for it — an ailing, 90-year-old UBS client.
The client wasn’t even at the dinner, but the broker who managed her trust was. So was the broker’s girlfriend, a longtime confidant of the client who had power of attorney over the trust. The trust paid the bill.
