Gilda Rosenberg, a dual U.S. and Colombian citizen residing in Golden Beach, Florida, has pleaded guilty to conspiring to defraud the United States by concealing tens of millions of dollars in undeclared foreign financial accounts and evading taxes.
According to court documents, Rosenberg, along with two family members, concealed over $90 million in assets and income held in undeclared bank accounts in Andorra, Israel, Panama, and Switzerland between 2010 and 2022.
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The family had maintained offshore accounts since the 1970s. By the late 1990s, Rosenberg was aware that these accounts were not disclosed to the U.S. government, and taxes were not being paid on the earned income.
The family consolidated their assets at Credit Suisse in Switzerland and the United Kingdom in the early 2000s, explicitly stating their intention to hide these assets from U.S. authorities. When Credit Suisse closed their accounts in 2013 due to their U.S. person status, the family moved the assets to Bank Leumi in Israel, Union Bancaire Privée (UBP) and PKB Privat Bank SA in Switzerland, and an Andorran bank.
Rosenberg was identified as the beneficial owner of accounts at UBP and the Andorran bank and signed false account opening documents claiming Colombian residency and not U.S. citizenship.
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Rosenberg and her relatives failed to file Reports of Foreign Bank and Financial Accounts (FBARs) and filed false tax returns omitting income generated by their offshore assets.
In 2017, they attempted to conceal their tax evasion by dividing the family’s assets and making it appear that Rosenberg and a relative gifted assets to another relative who had renounced his U.S. citizenship. They also created fake loan and investment documents to disguise transfers as legitimate transactions.
From 2010 to 2017, Rosenberg filed false tax returns, failing to report over $5.5 million in income from her UBP assets, resulting in a tax loss of $1,927,342 to the IRS.
Rosenberg is scheduled for sentencing on May 30th and faces a maximum of five years in prison, along with supervised release, restitution, and monetary penalties.
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