A Miami father and son, Mauricio Assor, 77, and Leon Cohen-Levy, 46, have been convicted of fraud and filing false tax returns.
U. S. District Court Judge William J. Zloch has set sentencing for Dec. 17 in Ft. Lauderdale, Florida. The defendants were arrested on April 15, 2010 and have been in detention since that time.
Both defendants are developers and owners of hotel properties. They traded under the name of Flatotel in New York, France, Spain and Brussels. A sale of the New York property in 2000 resulted in proceeds of $33 million. This income was never reported on their U. S. tax returns. Sale proceeds ended up in a Swiss bank account.
The IRS alleged the defendants did not report over $49 million in income. Each defendant faces a maximum sentence of eleven years.
Tax Wisdom: As a cop, the IRS has to balance customer service and law enforcement. Stated another way, the agency’s motto could be: “We’re your friend. But if you push that friendship too far,we’ll ruin your life and then throw you in jail.”
– Christopher Bergin