More than 52,000 Americans turned to Swiss bank UBS AG when they wanted to stash money from the government to avoid taxes, federal prosecutors say.
Robert Moran is just the first to admit it.
Moran, who runs a yacht company and lives in Lighthouse Pointe, pleaded guilty to filing false tax returns Tuesday in Miami federal court. He faces three years in prison and a $250,000 fine when he is sentenced on June 26.
But Moran might get off easy compared to others who may have hid millions of dollars in the Swiss bank, which has tried to hide the identity of other U.S. accountant holders. The Internal Revenue Service is suing UBS to get the name list of the other suspected tax evaders.
Moran is the second U.S. citizen charged since UBS in February turned over dozens of names of account holders suspected of concealing income from the IRS.
A Boca Raton accountant is scheduled to enter a plea next week on similar charges.