Malibu Man to Plead Guilty in Bank Secrets Case

0

A Malibu man accused of trying to avoid paying taxes has agreed to plead guilty to failing to report more than $1 million he transferred to a Swiss bank account, according to court documents filed Friday.

John McCarthy will plead guilty to one count of failing to file a Foreign Bank and Financial Accounts report. He is expected to appear in court Sept. 14 and faces up to five years in prison and fines totaling $250,000.

McCarthy is the first person to be named publicly after the Swiss and U.S. governments reached a deal Wednesday to settle American demands for the identities of suspected tax dodgers. The Internal Revenue Service is seeking more than 52,000 names from Zurich-based UBS, but both governments wouldn’t say how many names will be revealed. McCarthy funneled the money to a UBS account with the help of a Swiss lawyer and bank officials between 2003 and 2008, court documents said.



& #8226;

Read the full

USA Today

story.

No posts to display