"The Justice Department accused Steven Michael Rubinstein of Boca Raton, Fla., of using a UBS account to hide his offshore assets and income from the Internal Revenue Service"
As YOU pick up the TAB for EVERYTHING UNDER the SUN, Amurkn!!!!
Related: Whatever Happens in Switzerland Stays in Switzerland
"UBS client charged in US tax probe" by Bloomberg News | April 3, 2009
WASHINGTON - A Florida accountant became the first US taxpayer accused of hiding money in a UBS AG account since the Swiss bank provided US authorities with information about some account holders.
The Justice Department accused Steven Michael Rubinstein of Boca Raton, Fla., of using a UBS account to hide his offshore assets and income from the Internal Revenue Service. Prosecutors said Rubinstein filed a false 2007 income tax return that failed to disclose his account, set up under the name of Hybridge International Ltd.
"We expect that this prosecution is the just the first of the prosecutions that will be brought," said John A. DiCicco, acting assistant attorney general of the Justice Department's Tax Division. "The Tax Division is committed to helping the IRS to ferret out and hold accountable taxpayers who are hiding assets in undisclosed foreign accounts."
The IRS has encouraged taxpayers to avoid criminal prosecution by voluntarily disclosing their offshore UBS accounts.
Why ruin the fun (blog author types with a somber, straight, and serious face)?
UBS on Feb. 18 avoided US prosecution by admitting it helped taxpayers hide money in Swiss accounts to avoid paying US taxes. UBS also agreed to make reforms and pay $780 million in fines and penalties.
Rubinstein appeared yesterday before US Magistrate Judge Barry S. Seltzer in Fort Lauderdale, Fla. Seltzer ordered him detained until a bond hearing on Tuesday, according to the Justice Department. His lawyer, Robert Panoff, didn't immediately return a call seeking comment.--more--"
