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Swiss tax dodge gets Greenwich man 6 months $14M

Swiss tax dodge gets Greenwich man 6 months $14M

ZURICH: A Greenwich resident was sentenced to six months in prison for failing to report to the U.S. Department of Treasury more than $28 million in funds he maintained in secret bank accounts in Switzerland.

According to federal investigators, Hyong Kwon Kim is a citizen of South Korea who lived in Greenwich as a legal permanent resident while running family businesses. The Department of Treasury stated Kim stashed money he inherited in Credit Suisse accounts in Switzerland that concealed his identity to U.S. tax authorities, allowing him to evade taxes. bKim was ordered to pay $14 million in penalties and restitution of $250,000.