A California businessman has pleaded guilty to concealing a foreign bank account at an Israeli bank on his 2007 tax return.

Moshe Handelsman of Saratoga, Calif., pleaded guilty Wednesday to filing a false tax return for tax year 2007. According to the plea agreement, between approximately 1993 and 2000, Handelsman, a U.S. citizen, used three bank accounts held in the names of two different foreign corporations at foreign banks to falsely reduce his taxes. The last of those accounts was held at an unidentified Israeli bank located in Tel-Aviv, Israel.  The foreign bank accounts and foreign corporations were set up with the assistance of his tax return preparers.

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