Florida Man Pleads Guilty in UBS Tax Case

June 25th, 2009

New York Times

A wealthy American client of UBS pleaded guilty on Thursday to tax fraud, the latest victory for the federal government in its crackdown on UBS and its offshore private banking accounts.

The client, Steven Michael Rubinstein, an accountant involved in the yacht industry, avoided an indictment by entering a guilty plea in Federal District Court in Fort Lauderdale, Fla., to a single information count of filing a false tax return in 2004 that did not disclose his offshore UBS accounts. As part of the deal, he agreed to cooperate with the government in its continuing investigation into scores of UBS clients over offshore tax evasion.

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