Ex-UBS Client Roessel Pleads Guilty in Offshore Tax Case
This article is for subscribers only.
Former UBS AG client Wolfgang Roessel pleaded guilty to failing to report more than $11 million in Swiss accounts to the U.S. Internal Revenue Service.
Roessel, 72, admitted today in federal court in Fort Lauderdale, Florida, that he filed a false tax return for 2007 and failed to file Reports of Foreign Bank and Financial Accounts, or FBARs, from 2002 to 2007. He agreed to pay a civil FBAR penalty of $5.75 million as well as taxes due of $312,803.