Researcher Gets 1-Day Prison Sentence For Cheating Taxes

Law360, New York (January 11, 2012, 9:00 PM EST) -- A New Jersey cancer researcher who admitted to hiding about $2.6 million from U.S. tax collectors in accounts at UBS AG and other Swiss banks was sentenced Wednesday to a day in prison followed by eight months at a halfway house.

Michael Reiss, a 61-year-old researcher whose career included stints at Yale University and the Cancer Institute of New Jersey, for 20 years hid money from the U.S. Internal Revenue Service in Swiss accounts, according to prosecutors. He pled guilty in New York federal court in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.