Taxpayer: Lucille Abrahamsen Jackson
Banks : UBS AG
Entities: Yes
Guilt: By Plea Agreement - Tax Perjury (one count)
Incarceration (in months): 0
Probation: 1 year
FBAR penalty: $379,688
Fine: ?
Court: D NJ
Judge: Denis Cavanaugh
Age at sentencing: ?
Articles:
USAO D NJ Press Release
More will come tomorrow: Her father, Harry Abrahamsen, is scheduled for sentencing tomorrow on his pleas. For past blog on the father, see Another UBS Client Bites the Dust (4/12/11). I will fill in some of the blanks as information becomes available.
Addendum 5/23/11: Note that there are two other parent - child prosecutions:
Maricio Cohen Assor and Leon Cohen-Levy
Sybil Nancy Upham and Samual Phineas Upham
Monday, May 23, 2011
3 comments:
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Jack,
ReplyDeleteIn my view, it is not much of her offshore tax violation but her participation on tax evasion on the source of the fund with her father. -- as she knew her father had set up account in her name.
Is this a part of their scheme viewed by IRS ?
Her father's prosecution will certanly include tax evasion on the source, but would be weak case to have her included.
Folks, we really should not be whining how much IRS would impose on penalty, just compare what this lady has got.
ReplyDeleteWe should be just lucky in OVDI and get it over with.
Yet another sentence of probation, following a plea agreement. It seems that thus far, the overwhelming majority of criminal cases result in probation, house arrest, etc. Incarceration seems to be a result for those (like Assor and Cohen-Levy) who don't plea and go to trial instead.
ReplyDeleteAlso another case where an intermediary entity (e.g., foreign trust, corporation, foundation) was used by the US taxpayer to conceal true beneficial ownership of the foreign account.