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Government Scores A "Victory" Against Tax Frauds

Steven Rubinstein probably figured in a world where Allen Stanford is pleading his innocence and Bernie is gunning for 12 years behind bars for the largest Ponzi scheme in history, his sentence for one count of filing a false tax return will make a slap on the wrist look like vicious corporal punishment.The government claims the UBS private banking client (and Florida yacht industry accountant) utilized his offshore accounts for 8 years to pull off $7 million on-shore transfers tax free as well as wheeling and dealing in Krugerrand gold coins. For these indiscretions and his seven years worth of failing to file FBAR disclosures to the IRS, Rubinstein picked today, the day of Sir Allen's proclaimed innocence, to reverse his original not guilty plea and take his chances with sentencing for his single count of tax fraud.
Florida Man Pleads Guilty in UBS Tax Case [NYT]