USAO MDFL announced here the sentencing of a Florida businessman, Casey Padula, for conspiring to commit tax and bank fraud. The sentence is 57 months in prison. I previously reported on the guilty plea here. The pattern is a familiar one. Padula conspired with others to divert money from his U.S. business, thus avoiding tax, into foreign accounts. The foreign accounts were in Belize and were owned by two nominal foreign corporations. Padula also conspired with with investment advisors Joshua VanDyk and Eric St-Cyr, who helped them establish a numbered account. In addition to the tax fraud, Padula committed bank fraud along with another who made a sham purchase of his home secured by a mortgage allegedly under water. For previous posts mentioning VanDyk and St-Cyr, see here. The co-conspirator on the bank fraud conspiracy was sentenced to five years probation.
There is no indication in the press release about any potential FBAR penalty.
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