Friday, July 22, 2011

Links Jul 22

Swiss adviser charged in tax fraud tied to UBS Reuters
Jul 21 - A
Swiss financial adviser has been charged with helping more than 60 U.S. taxpayers hide more than $184 million in Swiss bank accounts and move assets from UBS AG to other Swiss banks to avoid getting caught. See Treasure Islands for insider commentary on bankers exchanging business in order to "assist" their clients.

See also: U.S. Department of Justice Press Release: Manhattan United States Attorney Announces Charges Against Swiss Financial Adviser For Conspiring With Over 60 U.S. Taxpayers To Hide More Than $184 million In Swiss Bank Accounts Hat tip Lucy Komisar.

Ex-Credit Suisse Offshore Banking Head Charged in U.S. Tax Case Bloomberg
Jul 22 - Credit Suisse Group’s former head of North America offshore banking was among seven bankers charged with conspiring to help clients in the U.S. evade taxes through secret bank accounts. In the past two years, prosecutors have filed criminal tax charges against more than two dozen UBS clients, four UBS bankers, four other alleged offshore enablers and several other clients of Credit Suisse and HSBC.

Tax Dodgers in the Cross Hairs Citizens for Tax Justice
Jul 21 - A
summary of tax dodging news from our friends at CTJ: Congress, the Internal Revenue Service, and the Department of Justice continue the attack against tax dodging, including schemes using offshore tax havens ... .

Anti-Tax Forces Have Lost the Public. Will the White House Fight or Cave?
Citizens for Tax Justice

Jul 21 - Recent polling makes clear that most Americans do not agree with the Tea Party-backed members of Congress who believe the only “concession” they should make in deficit negotiations is to prevent a calamitous default on U.S. debt obligations. The question is, will the White House use this advantage and demand a balanced approach, or will it back down again to anti-tax, anti-government lawmakers who are outside the mainstream of public opinion?

Congressmen and Banksters Protect Despots, Drug Lords and Tax Evaders

Jul 21 - Lawmakers have introduced legislation (H.R. 2568) to stop the Treasury Department from implementing rules requiring U.S. banks to report deposit interest paid to nonresident aliens, taking congressional opposition to the controversial regulations (REG-146097-09) to a new level. See
Treasure Islands blog - Tax Haven USA attracts over $3 trillion in foreign dirty money which talks about a lobbying effort from Florida; the new story is about legislation now introduced by those same interests.

Ecclestone under fire in F1 bribes probe
Financial Times

Jul 19 - Prosecutors in Germany have publicly alleged for the first time that Bernie Ecclestone and a trust belonging to the Formula One supremo's family paid almost $44m in bribes to a German banker. "Payment was disguised through Mauritius and the British Virgin Islands."

Tackling the mafia through the money trail swissinfo
Jul 19 - 'To overcome organised crime, the gathering, analysis and exchange of information between all the partners – national and international – is vital.'
Treasure Islands speaks of how Al Capone, legendary gangster, was convicted of tax evasion - and how his associate Meyer Lansky becamse fascinated with schemes to launder Mob money and began with Swiss banking.


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