- Associated Press - Thursday, December 18, 2014

ATLANTA (AP) - Federal prosecutors say an Atlanta entrepreneur has been convicted of hiding his income and assets in foreign bank accounts.

Authorities say 46-year-old Gregg Kaminsky pleaded guilty to willfully failing to file a foreign bank account report with the U.S. Department of Treasury.

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.

Prosecutors say Kaminsky also had his income from at least two other American companies direct deposited into the Swiss bank account.

Authorities say failing to report his income to the treasury concealed several hundred thousands of dollars’ worth of taxable income from the IRS.

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