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Another UBS client pleads guilty

July 29, 2009

Jeffrey Chernick, 70, today admitted in federal court in Fort Lauderdale, Florida, he didn’t declare $8 million held at UBS, the largest Swiss bank by assets. He’s the third UBS client to plead guilty since the bank gave more than 250 customer names to the Internal Revenue Service under a Feb. 18 agreement to avoid prosecution for helping wealthy Americans evade taxes.

Secret offshore accounts aren't so secret anymore. If you have one, you might sleep better if you take advantage of the offshore account amnesty. But don't dawdle; it expires September 23.