As reported by Bloomberg, in Manhattan Federal Court, Viktor Kordash, an Antique Dealer from New Jersey, pleaded guilty of not reporting an offshore account he had with Wegelin & Co in Switzerland.the account is believed to have held up to $1.6m

He faces as long as 5 years of imprisonment. He will be sentenced on September 12, 2014.

Viktor Kordash also agreed to pay min $268k in unpaid taxes plus a fine of $750k.