| A Longmeadow man was sentenced today for concealing from the Internal Revenue Service an Irish bank account he held with a balance of over $2 million.
Michael Fitzgerald, 50, was sentenced to six months in prison, three months of community confinement, six months of home confinement, two years of supervised release and ordered to pay a penalty of $1,115,320. Fitzgerald pleaded guilty in October 2017 to one count of willfully violating the foreign bank reporting requirements.
United States citizens and residents who have a financial interest in a foreign bank account with a value of more than $10,000 must file with the United States Department of the Treasury a Report of Foreign Bank and Financial Accounts. From at least 2005 through 2012, Fitzgerald, the owner and operator of a local roofing company, held bank accounts with the Bank of Ireland in Isle of Man. Those bank accounts held a combined balance of over $2.3 million in 2012. Fitzgerald willfully failed to report his foreign bank holdings to the Treasury Department.
