Court Sentences S. Korean National & US Resident to 6 Months in Jail for FBAR Violations on Swiss Account

IMPORTANT: The full content of this page is available to premium users only.

Friday, February 2, 2018
Author: 
Bruce Zagaris
Volume: 
34
Issue: 
2
Abstract: 

On June 25, 2018, U.S. District Court Judge Brinkema in the U.S. District Court for the Eastern District of Virginia sentenced Hyong Kwon Kim, a citizen of South Korea and, since 1998, a legal permanent resident of the United States, who resided in Massachusetts and later in Connecticut, to serve a sentence of six-months imprisonment for failing to report accounts in Switzerland with a value exceeding $28 million.  The sentence took into account Kim’s cooperation with the government, which occurred for more than a five-year span.