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Bellevue man facing up to three years for tax evasion
A Bellevue man pleaded guilty to today to filing a false tax return, admitting that he concealed nearly $2 million in Swiss bank accounts.
Roberto Cittadini, a retired sales manager for Boeing, failed to report income from bank accounts under his control at UBS AG in Switzerland, according to the IRS. He also failed to file a Report of Foreign Bank and Financial Accounts (F-BAR).
Cittadini faces a maximum sentence of three years in prison and a maximum fine of $250,000. He also agreed to pay a civil F-BAR penalty based on 50 percent of the highest account balance from the years in which he failed to file.
UBS, Europe's second-largest bank, admitted in February to helping U.S. taxpayers hide accounts from the IRS. The bank entered a deferred prosecution agreement in June, agreeing to provide the government with identities and account information for certain clients.
Since then, five other U.S.-based UBS clients have pleaded guilty to charges related to tax evasion.