Seven Ubs Clients Charged with Hiding Over $100 Million in Secret Swiss Bank Accounts to Defraud the Irs
U.S. Newswire › April 15, 2010
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Summary
Account Holders Hid Income and Assets From the IRS Using Sham Companies and Evaded Millions of Dollars in Income Taxes
Two Defendants Plead Guilty to Tax Crimes in Manhattan Federal CourtSee the full content of this document
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Seven Ubs Clients Charged with Hiding Over $100 Million in Secret Swiss Bank Accounts to Defraud the Irs
NEW YORK, April 15 /PRNewswire-USNewswire/ -- Preet Bharara, the U.S. Attorney for the Southern District of New York, and Victor S. O. Song, the Chief of the United States Internal Revenue Service (IRS) Criminal Investigation Division, announced today the filing of charges against seven individuals who collectively hid more than $100 million from the IRS by using sham companies to conceal their ownership of secret Swiss bank accounts held at UBS AG (UBS).
Two of those seven defendants, Jules Robbins and Federico Hernandez, pleaded guilty to separate criminal informations filed today in Manhattan federal court and agreed to pay civil penalties of $20.8 million and $4.4 million, respectively. Robbins pleaded guilty before U.S. Magistrate Judge Ronald L. Ellis. Hernandez pleaded guilty before U.S. District Judge Denny Chin.Charges als...See the full content of this document
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