Wealthy hotel developers convicted on tax charges

A father and son who developed hotels in New York and Florida have been convicted on federal tax charges in Fort Lauderdale.

The U.S. Attorney's Office reports that 77-year-old Mauricio Cohen Assor and 46-year-old Leon Cohen-Levy were found guilty Wednesday of conspiring to defraud the United States and filing false tax returns.

Prosecutors say the men concealed more than $150 million in assets, including Miami Beach mansions, yachts, luxury automobiles and bank accounts containing tens of millions of dollars. They also failed to report more than $49 million in income to the Internal Revenue Service.

Both men face up to 11 years in prison at sentencing, scheduled for Dec. 17.