Former Ubs Client Sentenced for Hiding $10 Million in Offshore Bank Accounts

U.S. Newswire › April 23, 2010

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Summary

Defendant Skimmed Proceeds from his Watch Businesses to Fund Secret Accounts

WASHINGTON, April 23 /PRNewswire-USNewswire/ -- Jack Barouh of Golden Beach, Fla., was sentenced today to 10 months in prison by U.S. District Court Judge Adalberto Jordan in Miami, the Justice Department and Internal Revenue Service (IRS) announced. He was ordered to surrender to the custody of U.S. Marshals by June 25, 2010. Barouh pleaded guilty in February 2010 to filing a false tax return.

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Extract

Former Ubs Client Sentenced for Hiding $10 Million in Offshore Bank Accounts

According to court documents and statements made in court, Barouh admitted to filing a false tax return for 2007 in which he failed to report that he had an interest in or a signatur...

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