On August 1, Masud Sarshar, the owner and operator of Apparel Limited, Inc. and a resident of Los Angeles, California, agreed to plead guilty to maintaining undeclared bank accounts at Israeli Banks.  The plea agreement includes a 24-month prison sentence and a restitution amount of $8.3 million to be paid to the IRS.  Sarshar hid tens of millions of dollars in assets in his undisclosed accounts, allowing him to earn interest and avoid individual and corporate taxes.  United States v. Sarshar, CR 16 00527 (C.D. Cal.). DOJ Press Release