83-year-old man pleads guilty to hiding more than $1 million from IRS

83-year-old man pleads guilty to hiding more than $1 million from IRS
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On Tuesday, an 83-year-old man pleaded guilty to stashing away $1.1 million from the IRS in undisclosed bank accounts in Switzerland and Israel.

Bernard Kramer of Delray Beach, Florida, referred to his accounts as "Hot Lips" in communications with Swiss bankers, a criminal filing stated. Kramer opened his first secret account in Switzerland in 1987, but moved over to an Israeli bank in the late 2000s after UBS started turning over the financial data of clients to U.S. federal prosecutors. Court filings say Kramer would ask for checks of less than $10,000 so the bank would not have to report it to government regulators.

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.