James A. Byrne U.S. Courthouse, which houses the U.S. Court of Appeals for the Third Circuit, and the U.S. District Court for the Eastern District of Pennsylvania, in downtown Philadelphia, on April 3, 2021. Photo: Diego M. Radzinschi/ALM
The U.S. Court of Appeals for the Third Circuit affirmed a district court ruling on a “decades-long course of conduct, omission, and scienter” by a college professor who failed to disclose ownership of foreign bank accounts.
Richard Collins worked as a professor in the U.S., Canada and France and opened accounts in all three countries as well as a Swiss bank account, according to the circuit court’s opinion filed Monday. Collins moved to the U.S. in 1994 and maintained his foreign accounts in France and Canada where he would receive small pension payments, which he transferred to the Swiss account.
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