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Baruch Fogel, a California doctor, pleaded guilty in the U.S. District Court for the Central District of California to one count of willful failure to report the existence of a foreign bank account on a FBAR.
On February 2, 2015, Baruch Fogel, a California doctor, pleaded
guilty in the U.S. District Court for the Central District of
California to one count of willful failure to report the existence
of a foreign bank account on a FBAR. He admitted to opening
an account at Bank Leumi in Luxembourg in the name of a British
Virgin Islands company. The account at one point held over $8
million, and he agreed to pay a civil FBAR penalty of $4.2
million. He faces a maximum sentence of five years in
prison.
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