YOU READ IT HERE FIRST : A federal judge gave Lucille Abrahamsen Jackson of Hillsdale probation today for stashing $750,000 in a Swiss bank account and not reporting it on her taxes, as part of a $1 million scheme cooked up by her father.
“I commend the government for going after these tax cheats,” U.S. District Judge Dennis M. Cavanaugh said during this morning’s sentencing in Newark, adding that “the defendant has paid a significant penalty already, both financially and personally.”
As part of a plea deal, Jackson agreed to pay a $379,688 federal penalty.
The account, originally opened in 1992, was transferred in 2000 into the name of Primrose Properties, S.A., a nominee Panamanian corporation, federal authorities said. Jackson’s father, Harry Abrahamsen, established Primrose in 2000 with the assistance of a foreign lawyer and a Swiss banker, in order to hide the account from the IRS, they said.
He’s scheduled to be sentenced by Cavanaugh in Newark tomorrow.
Jackson admitted underreporting personal income from 2000 through 2007. In 2003, the UBS of Switzerland account reached a high balance of over $759,376, the government said.
In exchange for not being prosecuted, UBS agreed in February 2009 to give the United States government names of, and account information for, certain U.S. customers of UBS’ cross-border business who, the bank admitted, were hiding accounts from the IRS.
U.S. Attorney Paul J. Fishman and Principal Deputy Assistant Attorney General John A. DiCicco of the Justice Department’s Tax Division commended special agents of the IRS Criminal Investigation unit for the case, which was prosected by Assistant U.S. Attorney Stacey A. Levine of the U.S. Attorney’s Office Criminal Division and Trial Attorney Michael C. Vasiliadis of the Department of Justice’s Tax Division.
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