1st US Client Charged in UBS Swiss Bank Records Probe Pleads Guilty
A Florida accountant accused of using a secret account at Swiss bank UBS AG to conceal income has pleaded guilty.
The plea by Steven Michael Rubinstein settles the first charges brought by U.S. authorities in an ongoing probe of the Swiss bank’s records concerning American account holders, reports the Wall Street Journal. When he is sentenced, Rubenstein could get up to three years in prison and a monetary fine for filing a false tax return.
“More prosecutions are expected to follow, as we continue to hold accountable those who conceal money and assets in an effort to avoid their income tax obligations,” says prosecutor Jeffrey Sloman. He is acting U.S. attorney for the Southern District of Florida.
Earlier related coverage:
ABAJournal.com: “DOJ Says It’s Not Backing Off Effort to Force UBS to ID Swiss Bank’s US Clients”
ABAJournal.com: “Fla. Accountant is 1st Person Charged in US Probe of UBS Swiss Bank”
ABAJournal.com: “Billionaire Olenicoff’s Plea Docs Describe Tax Evasion Techniques”
Bloomberg: “Billionaire Tax Felon Says UBS Lied in Pledge to Report to IRS”
Federal Tax Crimes: “Convicted Tax Evader Complains About His Enabler”
