Man Admits Using Panamanian Bank Account to Conceal $1.5M

September 21, 2016 8:00 PM

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A Connecticut man has admitted using a Panamanian bank account to conceal more than $1.5 million in profits from the sale of duty-free alcohol and tobacco products.

New Jersey U.S. Attorney Paul J. Fishman says Saul Hyatt pleaded guilty Wednesday in federal court in Newark to conspiring to conceal assets and income from the IRS.

Also read: Man suspected in New York City, Los Angeles bank robberies

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