Taxpayer: Michael Reiss
Bank : UBS AG; two other unidentified Swiss bank, but one is pseudonymed "Swiss Bank No. 1"
Swiss Enabler: Beda Singenberger (see blogs here)
Entities: Yes (sham foundation and apparently sham corporation)
Guilt: By Plea Agreement - False FBAR (1 count)
Sentence: 1 day incarceration; 8 mos. community confinement; 3 years supervised release
Tax Loss: $400,000 (at least)
Restitution (per Guilty Plea): $458,000 +.
FBAR Penalty: $1,217,316 (FBAR penalty; 50% of highest balance for one year).
Court: SD NY
Judge Accepting Plea: Berman, Richard M. (SDNY)
Prior blog entry on guilty plea: Yet another plea deal for UBS Depositor (8/6/11), here.
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