According to Law360, the son of a businessman convicted in the Panama Papers tax evasion scandal has pled guilty to three counts and been sentenced to time served, according to a judgment filed in federal court.
Joachim Alexander von der Goltz also was sentenced to pay $230,000 in restitution for three counts of conspiracy to commit tax evasion, making false statements and failing to report foreign bank accounts, said the judgment, filed Thursday in the U.S. District Court for the Southern District of New York.
Von der Goltz participated from 2000 to 2016 in a scheme to defraud the U.S., according to court documents. He had failed to file reports of foreign bank and financial accounts or FBARs from 2001 through 2016 and filed a fraudulent return in 2016, court documents said. Von der Goltz in 2003 concealed the U.S. residence and assets of a taxpayer who owned an overseas account.
Von der Goltz has paid the full amount of his restitution, according to court documents. He also will have to serve three years and one year of probation on different counts, running concurrently, the judgment said.
Von der Goltz is the son of private equity manager Harald Joachim von der Goltz, who was sentenced in September to a four-year prison term for his role in the Panama Papers investigation.
Harald von der Goltz in 2020 admitted to concealing his assets from the Internal Revenue Service with the help of Panamanian law firm Mossack Fonseca. Millions of the firm's documents were leaked to the news media in 2016, providing a glimpse into how the world's powerful people hide their wealth offshore.
Harald von der Goltz pled guilty to nine criminal counts, including tax evasion, fraud and making false statements. He was sentenced to four (4) years in prison, fined $30,000 and ordered to pay $3.4 million in restitution to the U.S. A federal judge in December delayed the start of his sentence until March to give him a chance to receive the coronavirus vaccine.
Read more at: Tax Times blog