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The United States Attorney's office has announced the sentencing of "Dennis Duban, a Los Angeles-based accountant and tax return preparer." The press release is here. He was sentenced to 24 months in prison pursuant to his plea for one count of conspiracy to defraud (Klein conspiracy) and for one count of aiding and assisting (Section 7206(2), [enhanced version available to lexis.com subscribers]). The sentencing minutes record is here.
The gravamen of Duban's conduct is that he assisted the persons related to the automobile dealership in running nondeductible personal expenses through the corporation. He also was involved in offshore accounts and entities for one of the principals and for himself personally. The release says (bold facing supplied by JAT).
- Prior to the sale of the Hacienda property, Duban and others assisted the same co-defendant in creating a nominee Cook Islands trust and opening a bank account at Wegelin Bank in Switzerland in the name “Southpac Trustee International, Inc., as Trustee of the Vista Pacifica Trust.” Proceeds of the Hacienda sale, over $14 million, were sent to the Wegelin account. Duban and a New York-based firm served as investment managers for the account. Duban and the co-defendant did not timely report the co-defendant’s beneficial interest in the Swiss account on Schedule B of a Form 1040 individual income tax return or by filing a Report of Foreign Bank Account (“FBAR”).`
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