Another UBS client, Peter A. Schober, was sentenced on 10/5/11. I blogged the original charges, Other UBS Account Holders are Charged (10/28/10), here. The following are the key bullet points as of now:
Taxpayer: Peter A. Schober
Bank: UBS
Entity(ies): Yes (Small Guard Foundation)
Guilt: By Plea Agreement - 1 Count FBAR violation.
Sentence: 1 month incarceration; 2 months home; 6 months supervised release
Unreported Income: ?
Tax Loss: $77,870.67
FBAR Penalty: $773,652
Court: D MA
Judge: Nathaniel M. Gorton
I will supplement these bullet points when more information is available. I will also update the spreadsheet at that time.
Thursday, October 6, 2011
2 comments:
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"Rudolph, the government alleged in a separate court filing, put $1.5 million into an account in his own name with UBS. But to conceal income he might earn on his investments made with the money, UBS helped Rudolph create a shell firm called Lucky Overseas Ventures. "
ReplyDeleteDoes that mean Rudolph did not use entity ? If not, then "how did he conceal income ? because he did not report on Schedule B ?
That could just be me -:)
The DOJ is baring is teeth to the Swiss power-brokers, with the one month incarceration. It is probably for being snubbed in the latest negotiations.
ReplyDeleteTo ij:
This guy has a lot of additional money, I suspect. $773,000 is nothing to him.
Regarding the corporate entity, who knows what they were planning. Neither UBS nor him seem to know what they were doing. All the money was already concealed by UBS (principal and interest), so there was no need for additional concealment. It sounds like a story they told the prosecutors, because it is what they wanted to hear.