On November 4, 2016, Dan Horsky, a citizen of the United States, United Kingdom and Israel and a former professor of business administration, pled guilty to tax fraud charges.  In connection with the plea agreement, Horsky paid a $100 million civil penalty to the U.S. Treasury.  According to the plea agreement, Horsky invested in start-up businesses through financial accounts at offshore banks, including a bank in Switzerland.  By 2008, Horsky’s accounts contained almost $200 million.  However, from 2008 through 2014, Horsky did not disclose these bank accounts on his tax returns. Sentencing is scheduled for February 10, 2007.  United States v. Horsky, No. 1:16-cr-224 (E.D. Va.). DOJ Press Release