Bobby Bray 10 a.m., Dec. 5
Former SD Lawyer Charged with Stashing Funds Offshore
Former San Diego attorney Christopher Rusch was charged in Phoenix today (Jan. 30) with defrauding the Internal Revenue Service by stashing funds in Switzerland. Rusch and two Phoenix area businessmen were charged with concealing millions of dollars in assets in numerous accounts at UBS (the former Union Bank of Switzerland) and elsewhere, according to the Justice Department and IRS. A grand jury indictment was returned Dec. 8, 2011, and unsealed today. Rusch was arrested yesterday in Miami after being removed from Panama by Panamanian authorities. In San Diego, Rusch was an attorney specializing in offshore structures, among other things. Rusch assisted the Phoenix businessmen in hiding the funds in Switzerland, and had his own accounts in Switzerland and Panama. The charges carry a maximum of five years in prison plus a $250,000 fine.