Boca Raton man pleads guilty in UBS tax case - South Florida Business Journal:

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According to court documents, Rubinstein kept a UBS bank account in the nameof Ltd. and betweenn 2001 and 2008 talked with UBS bankerws about the purchase and sale of securitieswortb 4.5 million Swiss Francs, or about $4.1 million in U.S. dollars, basec on today’s exchange It was alleged he transferreds the funds in and out of the bank accoungt and then usedapproximately $7 million to purchase propertg and build his home in Boca He also deposited and sold more than $2 million in South African Krugerrands through his UBS accounts, accordinb to a new release from the U.S. Attorney for the Southern Districtof Florida.
Rubenstein was a chartered accountanf who worked for an internationa l company that assists clientsto build, buy and sell Rubeinstein, who remains free on $12 milliohn bail, is to be sentencedx Sept. 30. As part of his plea he agreed to pay a fifty percenrt penalty for the year with the highest balances in the account as of June 30 in order to resolv his civil liability for failing to file Reports of Foreigb Bank and Financial Accounts between 2001and 2007. Meantime, all U.S. taxpayerss with assets of morethan $10,000 have until June 30 to disclosw bank or securities account in a foreig country or face hefty fines.
In Feburar 2009, UBS entered into a deferred prosecution agreemeng in which the bank admitted tohelping U.S. taxpayers hide accounts from the IRS. As part of theire agreement, UBS agreed to provide the U.S. governmenty with the identities of, and accounyt information for, certain U.S. customers of UBS’s cross-border