Fla. man guilty in tax case with secret accounts

MIAMI (AP) — A retired Florida businessman has pleaded guilty to filing a false U.S. tax return in a case involving millions of dollars in secret Swiss bank accounts.

The plea was entered Wednesday in Miami federal court by 71-year-old Wolfgang Roessel. He faces up to three years in prison and a maximum $250,000 fine. Roessel also must pay back taxes and a $5.7 million penalty for failing to report the Swiss accounts for several years.

Court documents show that Roessel failed to report accounts at Swiss bank UBS AG from 2002 to 2007. In addition, prosecutors say he had accounts at other Swiss banks from as far back as the 1980s that he neither disclosed to the U.S. nor reported on his tax returns.