Former Prepress Shop Owner Sentenced for Concealing More Than $1M
In addition to the term of probation with home confinement, Judge Cavanaugh ordered Abrahamsen to pay back taxes, interest and penalties totaling more than $600,000. As a condition of his guilty plea, he has also agreed to pay an FBAR penalty in excess of $300,000.
Abrahamsen previously pleaded guilty before U.S. District Judge Dennis M. Cavanaugh to an information charging him with one count of willful failure to file an FBAR.
According to documents filed in this case and statements made in court at his plea hearing, Abrahamsen admitted that he failed to file an FBAR for calendar year 2005. He also failed to report his account at UBS AG in Switzerland on his individual income tax return for that year, and failed to report a second account opened in the name of Lucille Abrahamsen Jackson, his daughter. Additionally, Abrahamsen failed to report income deposited in and earned on the UBS bank accounts.