A Florida woman, Gilda Rosenberg, has pleaded guilty to conspiring with family members to defraud the United States by concealing over $90 million in offshore bank accounts. According to court documents and statements made in court, Rosenberg conspired with two relatives from 2010 to 2022 to hide assets and income in undeclared bank accounts located in Andorra, Israel, Panama, and Switzerland.
The family's use of offshore accounts dates back to the 1970s. By the late 1990s, Rosenberg was aware that these foreign financial accounts were not disclosed to the U.S. government and that taxes on income earned from these assets were unpaid. In the early 2000s, the family consolidated their holdings at Credit Suisse in Switzerland and the UK. However, after Credit Suisse closed their accounts in 2013 due to their status as U.S. persons, they transferred assets under nominee entities' names to new locations including Bank Leumi in Israel and Union Bancaire Privée (UBP) and PKB Privat Bank SA in Switzerland.
Rosenberg failed to file required Reports of Foreign Bank and Financial Accounts (FBARS) for these accounts. Additionally, she filed false tax returns omitting income from her offshore assets between 2010 through 2017. This resulted in a tax loss of $1,927,342.
In an attempt to continue evading tax obligations around 2017, Rosenberg's family divided their assets under false pretenses involving gifting them to a relative who had renounced his U.S. citizenship. They also attempted covert asset transfers using fake loan and investment documents.
Rosenberg is scheduled for sentencing on May 30 where she faces up to five years imprisonment along with potential supervised release, restitution, and monetary penalties. A federal judge will decide her sentence considering various statutory factors.
Previously Rosenberg pleaded guilty in Texas for conspiracy related charges involving fraud against the Army and Air Force Exchange Service (AAFES). The case is being prosecuted by Assistant U.S. Attorney Ana Maria Martinez alongside other legal representatives from the Tax Division.
"U.S Attorney Hayden P O’Byrne for the Southern District of Florida," announced this development along with "Acting Deputy Assistant Attorney General Karen E Kelly of Justice Department’s Tax Division."
The IRS Criminal Investigation’s International Tax & Financial Crimes Unit is investigating while critical evidence assistance came from Justice Department’s Office of International Affairs.
Further information about this case can be accessed on websites maintained by both United States Attorney’s Office for Southern District Florida or District Court Southern District Florida under case number "25-cr-20005."