Jules Robbins, Ernest Vogliano, and Federico Hernandez were arrested and variously charged with Offering a False Instrument for Filing and False Returns; Personal Income and Earning Taxes, for setting up and using sham companies to conceal the ownership of multiple Swiss bank accounts.
Investigation on these three defendants was a result of UBS’s filing for a $780 million deferred prosecution agreement with the United States Government in February 2009. The agreement revealed that UBS would provide the Government the identities of UBS customers who concealed their Swiss-based assets and personal income from the Internal Revenue Service (IRS).
In the matter of 5-7 years, Robbins, Vogliano and Hernandez concealed millions in assets by setting and using international sham companies with the assistance of a Swiss attorney to set up fraudulent accounts with UBS.
If convicted, the three defendants face a maximum of 16 years in prison.
