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UBS Conviction for Tax Fraud by Filing False Tax Return

Florida Yacht Broker Plead Guilty to Tax Fraud with Offshore UBS Account

The Department of Justice and the IRS recently announced a guilty verdict for a Florida yacht broker that pleaded guilty to Tax Fraud charges tied to the UBS scandal. In February UBS agreed to give up the names of hundreds of their U.S. based clients and to pay up a $780 million penalty to enter into a deferred prosecution agreement with the U.S. governement. According to the indictment, Robert Moran concealed over $3 million in assets and hid transactions through a corporation in Panama. The courts could have sentenced him to up to 3 years in prison and a $250,000 fine.