Gilda Rosenberg, Conspiracy to Defraud, Florida 2024

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Florida Woman Sentenced to 30 Months for Concealing $90M from IRS

Miami, Florida – In a shocking case of tax evasion, Gilda Rosenberg, a 60-year-old dual U.S. and Colombian citizen, was sentenced to 30 months in prison for conspiring to defraud the United States by concealing tens of millions of dollars in undeclared foreign financial accounts, filing false tax returns, and evading taxes.

According to court documents, between 2010 and 2022, Rosenberg conspired with two family members to conceal from the IRS more than $90 million in assets and income held in undeclared bank accounts in Andorra, Israel, Panama, and Switzerland.

Rosenberg’s family had maintained offshore accounts since the 1970s. By the late 1990s, Rosenberg — who was identified as an owner and an authorized signer on some of the accounts — knew that she and her family members had not disclosed their ownership of these foreign financial accounts to the U.S. government and that they had not paid any taxes on the income earned from the assets in those accounts as was required by law.

Starting in the early 2000s, the family consolidated their assets at accounts with Credit Suisse in Switzerland and the United Kingdom. Family members told Credit Suisse employees that they were U.S. persons and seeking to hide their assets from U.S. authorities. The assets remained at Credit Suisse until 2013, when Credit Suisse closed the accounts because the family members were U.S. persons.

When Credit Suisse closed their accounts, the family moved their assets, which were typically titled in the names of nominee entities, to new accounts located at Bank Leumi in Israel, Union Bancaire Privée (UBP) and PKB Privat Bank SA in Switzerland, and an Andorran bank. Rosenberg was documented as the beneficial owner of accounts at UBP and the Andorran bank. She also signed false account opening documents that claimed she was a Colombian citizen and not a U.S. citizen.

Rosenberg, as well as her relatives, did not file Reports of Foreign Bank and Financial Accounts (FBARS) disclosing their foreign financial accounts, as they were required to do. In addition, Rosenberg and her relatives continued to file false tax returns that omitted income generated by their offshore assets.

Rosenberg’s plea agreement required her to agree to pay $1,927,342 in restitution to the IRS. She had also agreed to pay interest on the restitution. Separately, Rosenberg’s plea agreement required her to agree to pay a penalty of $5,857,045.50 to the IRS to resolve her civil liability for failing to file an FBAR.

Gilda Rosenberg, 60, of Golden Beach, Florida, was sentenced on Friday, April 26, 2024. The exact criminal charges against her include Conspiracy to Defraud the United States, filing false tax returns, and evading taxes. Rosenberg’s sentence of 30 months in prison is a stark reminder of the consequences of hiding assets from the IRS.