A Palm Beach woman pled guilty to filing false tax returns in 2006 and 2007.
Mary Curran had two undeclared bank accounts, one in Switzerland and one in Liechtenstein, and failed to report income from them on her 2001 through 2007 tax returns, according to court documents.
According to the plea agreement, Curran’s conduct caused a tax loss to the government of approximately $667,716. The value of all undeclared foreign financial accounts owned or controlled by Curran exceeded $42 million in 2007.
Curran agreed to pay a civil penalty of $21,666,929.
“U.S. citizens who seek to avoid their tax obligations by hiding income in undeclared bank accounts abroad should by now be fully on notice that they will be held accountable for their actions, both civilly and criminally,” said U.S. Attorney for the Southern District of Florida Wifredo A. Ferrer. “The U.S. Attorney’s Office is committed to helping the IRS enforce our nation’s tax laws.”
Curran faces a maximum prison sentence of six years. A sentencing date has not been set.