Palm Beach County, Florida resident, Dusko Bruer, who owned a company that bought US made agricultural machinery and parts, and sold them throughout the world, was sentenced to twenty-four months in prison, serve two years of supervised release and to pay approximately $2,789,538 in restitution to the United States for not reporting his foreign bank accounts and evading million in taxes.
Bruer ran the company from 2003 to 2009, and despite having numerous employees and millions in revenue, never filed employment or corporate tax returns. He did not pay himself a salary and used the company’s bank accounts to pay his personal expenses, to make foreign investments and to transfer funds to family members.
In order to conceal his income from the IRS, Bruer owned and controlled bank accounts in Croatia, Germany, Serbia and Switzerland. From 2007 to 2011 alone he transferred 5.8 million dollars from domestic accounts to the foreign accounts, and from 2007 to 2014 he failed to report $7,726,213.
Through the offshore accounts Bruer purchased foreign property, a $1,350,000 yacht, and a beach front home in Florida for $1,650,000.
