On February 2, 2015, Baruch Fogel, a California doctor, pleaded guilty in the U.S. District Court for the Central District of California to one count of willful failure to report the existence of a foreign bank account on a FBAR. He admitted to opening an account at Bank Leumi in Luxembourg in the name of a British Virgin Islands company. The account at one point held over $8 million, and he agreed to pay a civil FBAR penalty of $4.2 million. He faces a maximum sentence of five years in prison.
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