A Portola Valley man was sentenced in federal court on Wednesday to over a year in prison followed by three years of supervised release after pleading guilty to failing to report funds in Swiss bank accounts to the IRS.
Christopher B. Berg was found guilty of setting up bank accounts at UBS in Switzerland to shelter $642,070 of his income earned from working as a consultant from the Internal Revenue Service between 2001 and 2005.
U.S. Attorney Melinda Haag said that prior to sentencing, Berg paid restitution to the IRS of more than $250,000 and a penalty of $287,896 for failure to properly report his foreign accounts.
Haag said that based on court documents, Berg began working as a consultant in 1999 and then met with Beda Singenberger, a Swiss financial consultant, and a vice president of banking at UBS in San Francisco in 2000.
Berg and Singenberger discussed setting
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