Ex-Credit Suisse Client, 83, Admits Hiding $5.7 Million
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An 83-year-old Massachusetts man who held Swiss bank accounts at Credit Suisse Group AG and Wegelin & Co. pleaded guilty to hiding $5.7 million from U.S. tax authorities.
Jacques Wajsfelner admitted in federal court in Manhattan yesterday that he failed to file Foreign Bank and Financial Accounts Reports. He will pay civil penalties of $2.84 million and restitution of $419,940. Under advisory guidelines, he faces 30 months to 37 months in prison at sentencing on Dec. 20.