A former vice president of an Israeli bank’s Los Angeles branch was charged today with conspiring to defraud the United States by allegedly helping conceal undeclared accounts owned and controlled by U.S. customers in Israel.
According to the U.S. Attorney’s Office, Shokrollah Baravarian, of Beverly Hills, allegedly concealed the accounts from the Internal Revenue Service (IRS) by opening them under pseudonyms, code names or the names of other entities set up in the British Virgin Islands and the island of Nevis.
He also allegedly helped U.S. customers secretly access the accounts by obtaining loans secured by undeclared accounts in Israel but issued by the Los Angeles branch. He would also fail to keep copies of loan documents at the Los Angeles branch, prosecutors said.
“Our special agents unraveled the complex financial transactions used to disguise the funds in the undeclared accounts,” according to Richard Weber, chief of IRS-Criminal Investigations. “Those who help other commit tax evasion risk prosecution and substantial monetary penalties.”
If convicted, he faces up to five years in prison and a fine of up to $250,000.
