The U.S. Attorney’s Office for the Southern District of New York issued a press release on January 20, 2015 announcing the guilty plea of a CEO for hiding over $ 8.4 million in offshore Swiss bank accounts. George Landegger, the Chairman and CEO of an international pulp mill company, pled guilty to willfully failing to file FBARs for accounts that he maintained at a Swiss bank located in Zurich, Switzerland.
Landegger owned these accounts for nearly ten years, from the early 2000s up until 2010. During that time, his undeclared assets reached a high value of over $8.4 million.
What got Mr. Landegger into this “hot mess?” At the most primitive level, Mr. Landegger failed to report numerous Swiss bank accounts that he held for nearly ten years. But like Read More
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