Another HSBC Undisclosed Account Holder Charged!
Posted in Offshore Account Update, UBS / HSBC on April 21, 2011 | Share
Michael F. Schiavao, 53, managing director at SCG Consulting Group in Boston was charged with failing to report his offshore account at HSBC Holdings Plc (HSBA) to U.S. authorities.
He failed to file a Report of Foreign Bank and Financial Accounts form, or FBAR, disclosing an account at HSBC Bank Bermuda, according to a criminal charge filed today in federal court in Boston. Schiavo has agreed to plead guilty, according to a Justice Department statement.
Schiavo, is one of at the three clients with accounts at HSBC.
I am sure more are to come!
A voluntary disclosure can help prevent this outcome. Find out your options today!
The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through voluntary disclosure. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!
