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Thursday, December 24, 2009

Ohio Attorney Charged with FBAR violations Among Other Dastardly Deeds

An attorney in Ohio has been charged "with fifteen counts of aiding and assisting in the preparation of false and fraudulent tax returns that related to five different trusts; one count of willfully failing to file a report of foreign bank and financial accounts; one count of conspiracy to commit obstruction of justice; one count of witness tampering; one count of submitting a false statement; and one count of obstruction of justice." Another attorney in Ohio has been charged with a one count charge, coupled with a guilty plea, for making a false statement to federal agents and to DOJ. The DOJ Tax announcement is here.

This is mundane stuff except, of course, for the current hot topic -- offshore accounts. Projecting from the announcement, it appears that the charge for the failure to report on the FBAR is just icing on the cake in the charges and is unlikely to affect sentencing so long as the tax Guideline applies. See here.

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