Missouri Federal Court Says Steele Owes $107K FBAR Penalty For Undisclosed Swiss Accounts
A Missouri Federal Court declared Tuesday that Daniel Keith Steele, already serving a sentence after pleading guilty for mail and wire fraud owes $107k in penalties and interest for failing to state his stake in a Swiss bank.
The federal court said in the default judgment that Daniel Keith Steele, who failed to respond to the government's suit against him, is liable for failing to timely register a report of foreign bank and financial accounts, and then some interest. In its September 2020 complaint, the U.S. said that Keith willfully refused to disclose on time the funds stored in several Swiss bank accounts in 2012.
Steele pleaded guilty in 2017 to a mail and wire fraud charge and was ordered to pay $1.5m in restitution and sentenced to a seven-year prison term, according to the complaint.
The case is U.S. v. Daniel Keith Steele, case number 4:20-cv-01337, in the U.S. District Court for the Eastern District of Missouri.