NEW YORK, Sept 21 (Reuters) - A former wealthy U.S. client of UBS AG was sentenced on Tuesday to one year of probation after pleading guilty to five counts of filing false tax returns.
Jules Robbins, 84, was charged along with six others with filing false tax returns, collectively hiding more than $100 million held offshore in Swiss accounts.
'For the years 2003 to 2007, I filed a false income tax return knowing that it did not mention a UBS account I controlled or any income I earned in that account,' Robbins, told a U.S. Magistrate Judge in April.
Robbins, a resident of New York who owned and operated companies that distributed watches, was believed to have had as much as $40 million in the account.
Robbins agreed in April to pay a civil penalty of $20.8 million to the Internal Revenue Service.
He was sentenced by U.S. District Judge Richard Holwell in Manhattan federal court.
The case is USA v. Robbins 10-cr-00333 in U.S. District Court for the Southern District of New York.
(Reporting by Basil Katz; Editing by Robert MacMillan) Keywords: USA TAXES/ (basil.katz@thomsonreuters.com; +1212 385 2466) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Jules Robbins, 84, was charged along with six others with filing false tax returns, collectively hiding more than $100 million held offshore in Swiss accounts.
'For the years 2003 to 2007, I filed a false income tax return knowing that it did not mention a UBS account I controlled or any income I earned in that account,' Robbins, told a U.S. Magistrate Judge in April.
Robbins, a resident of New York who owned and operated companies that distributed watches, was believed to have had as much as $40 million in the account.
Robbins agreed in April to pay a civil penalty of $20.8 million to the Internal Revenue Service.
He was sentenced by U.S. District Judge Richard Holwell in Manhattan federal court.
The case is USA v. Robbins 10-cr-00333 in U.S. District Court for the Southern District of New York.
(Reporting by Basil Katz; Editing by Robert MacMillan) Keywords: USA TAXES/ (basil.katz@thomsonreuters.com; +1212 385 2466) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.