Former Prepress Shop Owner Sentenced for Concealing More Than $1M
NEWARK, NJ—May 24, 2011—Harry Abrahamsen of Oradell, NJ, was sentenced today to three years of probation—including 12 months of home confinement with electronic monitoring—after admitting he failed to file a Report of Foreign Bank and Financial Accounts (FBAR), concealing more than $1 million in Swiss bank accounts. That announcement was made by U.S. Attorney Paul J. Fishman and Principal Deputy Assistant Attorney General John A. DiCicco of the Justice Department’s Tax Division.
Abrahamsen admitted that he funded the UBS accounts with approximately $1.3 million in false and inflated expenses paid by his prepress printing business, SJT Imaging, to a Swiss company. The inflated expenses were then deducted on SJT’s corporate tax returns, which allowed Abrahamsen to under report personal income for the years 1999, 2000, 2001, 2002 and 2003.