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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