79-year-old millionaire, Mary Curran pleaded guiltyfor tax evasion and was sentenced to one year of probation in federal court. However,the judge immediately revoked the sentence. Reports allege that the judge suggestedthat the prosecution was unnecessary. Originally, Curran faced up to six yearsin prison plus one year of probation and a fine. Curran had not paid income taxon her $43 million dollars in an offshore account. As a result, she facedprosecution for tax evasion. Nonetheless, Curran did file a voluntarydisclosure with the IRS. In spite of this, the disclosure came too late. TheDepartment of Justice had started an investigation, which precluded her fromthe voluntary disclosure program. Curran has agreed to pay roughly 21.7 milliondollars as a penalty.
See Alistar M. Nevius, Widow Avoids Jail Time and Probation in Sentencing for Offshore Account Tax Evasion, American Institute of CPAs, Apr. 26, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
