Victor Lipukhin, a Russian citizen and former lawful permanent US resident, was indicted on Friday by a federal grand jury in Kansas City, MO, for attempting to interfere with the administration of the internal revenue laws and filing false tax returns, the US Justice Department and Internal Revenue Service said in a statement late last week.

Victor Lipukhin, a Russian citizen and former lawful permanent US resident, was indicted on Friday by a federal grand jury in Kansas City, MO, for attempting to interfere with the administration of the internal revenue laws and filing false tax returns, the US Justice Department and Internal Revenue Service said in a statement late last week.

Lipukhin previously served as president of Severstal (USA), a subsidiary of AO Severstal - the largest steel producer in Russia. He reportedly hid “millions of dollars in several Swiss bank accounts held at UBS,” according to the indictment.

Lipukhin kept between around $4,000,000 and $7,500,000 in assets in two secret UBS bank accounts in Switzerland from “at least 2002 through 2007.”

“An indictment merely alleges that a crime has been committed, and a defendant is presumed innocent until proven guilty beyond a reasonable doubt.  If convicted, Lipukhin faces a potential maximum sentence of three years imprisonment on each count,” the DoJ said.

Meanwhile, as reported by Family Wealth Report last week, a California attorney has been sentenced to serve 10 months in prison for helping clients hide away millions in secret Swiss bank accounts. Christopher Rusch was found guilty of helping his clients Stephen Kerr and Michael Quiel, both businessmen from Phoenix, hide millions of dollars in secret offshore bank accounts at UBS AG and Pictet & Cie in Switzerland, the US Justice Department said in a statement (see here).