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Sunday, April 28, 2013

UNUSUAL RESULTS IN OFFSHORE ACCOUNT CASE

79 year-old Mary Estelle Curran received good new when she was sentenced for criminal tax evasion and failing to file reports of foreign bank accounts on UBS Swiss accounts she inherited from her husband.
The good news was that the judge awarded no jail time and only probation, and then immediately revoked the probation. The bad news was that Ms. Curran entered into an agreement to pay a fine of $21 million dollars (half of the highest balance of the offshore accounts).
Even more unusual than the immediate revocation of probation and the very large penalty were the comments of the judge, who called the situation "tragic" and note that the government "should have used a little more discretion." The judge further urged Ms. Curran to seek a pardon from the President.
You can read more about the sentencing here and read the settlement agreement here.

1 comment:

Don said...

This case also appeared here in the Shiny Sheet.