UBS Client Sentenced to One Year in Prison

more+
less-

Bloomberg reports that a client of UBS AG was sentenced to a year and a day in prison for using a Swiss bank account to evade more than $1 million in taxes. Peter Troost, the 78-year-old owner of Troost Memorials, which designs and sells cemetery monuments and gravestones, was sentenced in federal court in Chicago. He pleaded guilty in March, admitting that he evaded taxes on more than $3.3 million in income.

Topics:  Foreign Banks, Offshore Banks, Offshore Funds, Prison, Tax Evasion

Published In: Criminal Law Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BakerHostetler | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »