Accountancy Age reports:

A billionaire - ranked 286th in Forbes list of the 400 richest Americans - accused of hiding millions in foreign bank accounts, has pleaded guilty to filing false tax returns and paid back more than $52m in back taxes and penalties.

Igor Olenicoff - a property magnate who owns more than 10,000 apartments and 33 residential communities in Las Vegas and Florida, as well as 65 commercial properties in Orange County - made the admissions in a federal court, after the Internal Revenue Service charged him with filing a 2002 tax statement denying he had offshore accounts.

Of course, the fact that he was at 286 in the USA was in part because he was a tax fraudster.

I bet he's not alone on that list.

And it had to be offshore, of course.