Luis Quintero, a former UBS AG (UBSN) client from Miami Beach, Florida, was sentenced to four months in federal prison for failing to disclose $4 million in Swiss bank accounts, the Miami U.S. Attorney’s Office said.
Quintero, a 64-year-old wholesale perfume importer, pleaded guilty in April and agreed to pay a $2 million fine for failing to file a Report of Foreign Bank and Financial Accounts for the calendar year 2006, according to court records.
Born in Cuba, Quintero immigrated to the U.S. when he was 10 years old. He owned Genesis International Marketing Corp., which sold designer perfumes and cosmetics, primarily in airport and duty free shops in the Caribbean and Latin America, according to court records. He was sentenced yesterday in Miami federal court, according to an e-mailed statement.
U.S. prosecutors have charged about 50 Americans with tax crimes since 2009, when UBS avoided prosecution by paying $780 million, admitting it helped thousands of U.S. citizens evade taxes and turning over the names of 250 clients to U.S. authorities. Zurich-based UBS later revealed another 4,450 accounts.
Quintero’s attorney, Ian Comisky, declined to immediately comment.
The case is U.S. v. Luis A. Quintero, 12-cr-20192, U.S. District Court, Southern District of Florida (Miami).
To contact the reporter on this story: Susannah Nesmith in Miami federal court at email@example.com.
To contact the editor responsible for this story: Michael Hytha at firstname.lastname@example.org