According to the United States Attorney for the Southern District of New York, Henry Seggerman pleaded guilty today of tax fraud. In the press release the Manhattan US attorney said: ‘Henry Seggerman and three of his siblings inherited and continued a family tax fraud scheme. We will continue to aggressively investigate and prosecute U.S. taxpayers, and those that assist them, in evading their obligations by hiding money in secret offshore accounts.’

Henry Seggerman faces a maximum sentence of 11 years in prison but no sentencing date has been set yet. In addition,  he agreed as part of his guilty plea to make a payment of approximately $600k at the time of his sentencing, in partial satisfaction of the ultimate restitution obligation he faces at sentencing.