|Published:||Jul 26, 2012 10:12 AM EDT|
|Updated:||Jul 26, 2012 10:12 AM EDT|
MIAMI (AP) - A South Florida man has been sentenced to four months in federal prison after pleading guilty to failing to report accounts at Swiss bank UBS AG.
Prosecutors said Wednesday a Miami judge imposed the sentence on 62-year-old Luis Quintero of Miami Beach. Quintero also paid a $2 million civil penalty and was fined $20,000.
Court records show Quintero formed companies in the British Virgin Islands and Panama that were used to open the UBS accounts. At one point the accounts had more than $4 million in them.
The prosecution is one of many in the U.S. following an agreement in which UBS turned over identities of some of its U.S. customers. UBS paid a $780 million fine in that 2009 deferred prosecution agreement.
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