tag:blogger.com,1999:blog-1519969502186924526.post5459013414180536126..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: More enablers indictedJack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1519969502186924526.post-65261978855265636622011-02-28T11:16:19.429-06:002011-02-28T11:16:19.429-06:00Good Point Jack. Adding to your comment, I would s...Good Point Jack. Adding to your comment, I would speculate also that the indictment will put the person out of business in the financial world. A large institution cannot have an indicted person working for it, and frankly, it looks very bad for the institution especially for any business related to managing government pension funds and such like. Just my 5C.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-22605938924223442492011-02-27T07:55:21.239-06:002011-02-27T07:55:21.239-06:00My speculation is that at least one of these defen...My speculation is that at least one of these defendants is outside the country and unlikely to come here now that the indictment is public information. So one count of conspiracy can make a statement. Further, my speculation is that the suspension of limitations period may be relevant. For reasons I note, as to persons outside the country, the Government will be able to supplement the charges at any time -- even years into the future.<br /><br />Under Section 6531, the statute of limitations for tax crimes and for conspiracies related to tax crimes is 6 years, but the statute is tolled during the period the taxpayer is either out of the U.S. or a fugitive as defined in 18 U.S.C. Section 3290. As noted in the CTM 7.03 (linked below), most courts deem intent as key to fugitive status and it may be difficult to prove intent for a bank employee who is a citizen and/or resident of Switzerland. But, the first of the disjunctive rules for tax crimes kicks in while they are merely out of the country whatever their intent for being absent.<br /><br />The net effect of all this is that the Government will have room in the statute of limitations to charge other tax crimes when and if these guys come into the U.S.<br /><br />And the truth is that, even if tried and convicted, these guys are unlikely to get more than 5 years even with other counts of conviction (and even with counting other related crimes as relevant conduct). <br /><br />Finally, just to note the other crimes that could be charged, these defendants could be charged with the underlying tax evasion by their U.S. clients, either under Pinkerton or aiding and abetting.Jack Townsendhttps://www.blogger.com/profile/14469823736335455874noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-8258214439852712292011-02-26T13:37:15.893-06:002011-02-26T13:37:15.893-06:00I'm wondering why there's only one count o...I'm wondering why there's only one count of conspiracy ? Does it indicate these bankers may have struck a deal ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-16444633401940164492011-02-24T06:46:37.206-06:002011-02-24T06:46:37.206-06:00Jack,
According to a Bloomberg News post, these...Jack, <br /><br /><br />According to a Bloomberg News post, these are Credit Suisse Bankers.http://www.bloomberg.com/news/2011-02-23/four-swiss-bankers-indicted-by-u-s-in-tax-conspiracy-case.html.<br /><br />Hopefully, they will get some real time, if they are found guilty.PaddyC Bostonnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-45694915095563066852011-02-24T01:47:25.059-06:002011-02-24T01:47:25.059-06:00International Bank is Credit SuisseInternational Bank is Credit SuisseAnonymousnoreply@blogger.com