Cancer Researcher Admits to Hiding Assets in Swiss Banks
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A New Jersey cancer researcher admitted to hiding millions of dollars from U.S. tax authorities in accounts at UBS AG and other Swiss banks.
Michael Reiss, 60, of Princeton, pleaded guilty today in Manhattan federal court to failing to file reports of foreign bank accounts in 2008 and 2009. Reiss, who faces as long as five years in prison at his sentencing in November, was released on a $200,000 bond.