UBS Client Berg Admits to Failing to Report Swiss Account
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A former UBS AG client, Christopher B. Berg, pleaded guilty to failing to file a required report with the U.S. Treasury Department about a Swiss bank account used to shelter some of his income from taxation.
Berg, a self-employed marketing consultant, admitted today in federal court in San Jose, California, that he didn’t file a Report of Foreign Bank and Financial Account, or FBAR, for a UBS account he set up in 2000, according to court filings. Berg, who works in the furniture industry, opened the account in the name of a British Virgin Islands corporation, CC Ventures Inc., he admitted.