- Associated Press - Thursday, March 5, 2015

ATLANTA (AP) - Federal prosecutors say an Atlanta man has been sentenced to four months in prison for hiding income in foreign bank accounts.

Authorities say 46-year-old Gregg A. Kaminsky was sentenced in federal court on Wednesday and must also pay a $250,635 civil penalty.

Prosecutors say Kaminsky was the CEO of an Internet-based company and had a Swiss bank account worth more than $1.1 million. Investigators say between 2002 and 2009, he transferred money from that account to others that he controlled in Thailand and Hong Kong.

Investigators say Kaminsky failed to disclose the income to the U.S. Treasury Department, concealing taxable income, interest and dividends from the IRS.

Kaminsky pleaded guilty in December to willfully failing to file a foreign bank account report with the U.S. Department of Treasury.

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