UBS Client Pleads Guilty Yesterday to Filing False Tax Return
In a well timed guilty plea, the day before tax day, Robert Moran, entered a plea yesterday in federal court in Ft. Lauderdale, according to this report from the Miami Herald, to filing a false tax return. The Herald reports that Moran, the founder and president of Moran Yacht & Ship in Ft. Lauderdale, had $3.4 million in a UBS account in Switzerland as of year end 2007, but didn’t report to the IRS that he had the account and did not declare the income from the account as required by law.
Moran is the second UBS client to face criminal tax charges since UBS agreed in February to a deferred prosecution agreement with the government to provide the IRS with the identities of and account information for U.S. customers of UBS’s overseas accounts. UBS also agreed to pay a fine of $780 million.
Moran faces up to three years in prison and a $250,000 fine.
