US accountant granted bail in UBS tax case
By CURT ANDERSON, Associated Press
FORT LAUDERDALE, Fla. (AP) — A wealthy accountant who is the first U.S. citizen charged in a wide-ranging tax probe of Swiss banking giant UBS AG was granted release from jail Wednesday on $12 million bail.
Federal prosecutor Jeffrey Neiman said the unusually large amount was necessary because of the high risk that Steven Michael Rubinstein might flee the country. Rubinstein, 55, is also a citizen of South Africa and owns a condominium in Israel in addition to his main home in Boca Raton
U.S. Magistrate Barry Seltzer also ordered Rubinstein to a dusk-to-dawn home curfew, wear an electronic monitoring ankle bracelet and travel only within South Florida. He agreed to surrender keys to a 45-foot boat docked outside his home and gave up his U.S. and South African passports.
Rubinstein is scheduled to enter a plea April 22 to charges of filing a false 2007 tax return by failing to disclose income from his UBS accounts, which carries a maximum three-year prison sentence. The Internal Revenue Service claims Rubinstein failed to report UBS income on his returns from 2001 to 2007, but he is only charged so far for the 2007 return.
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