tag:blogger.com,1999:blog-1519969502186924526.post8191465993757761592..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: British Lawyer Charged in Swiss Bank Mess Related to UBS Account (5/11/12)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-1519969502186924526.post-81632906020354196582015-01-15T17:45:22.544-06:002015-01-15T17:45:22.544-06:00Swiss Bank
Accounts. Jan.. 2015.
Is your monies s...Swiss Bank<br />Accounts. Jan.. 2015.<br /><br />Is your monies safe<br />in these accounts ---- definitely NOT.<br /><br />Would you get your<br />money back if every body decided to withdraw all their accounts –<br />NO WAY.<br /><br />Economic Experts<br />say that there would only enough money to repay 50% of their clients.<br /><br />Are you going to be<br />in the 50% --- that loose your money.-- Get it out NOW.<br /><br />2012 -- - June.<br />-- Published in Anglo INFO .Geneva.--- USA Trust Fund Investors were<br />sent false and fraudulent documents by Pictet Bank.Switzerland. in<br />order to collect large fees. ( Like MADOFF) ---Even after the SEC in<br />the USA uncovered the fraud Pictet continued to charge fees and drain<br />whatever was left in these accounts. Estimated that $90,000,000<br />million lost in this Pictet Ponzi scheme.<br /><br />2012 - - - July.<br />-- De – Spiegel. -- states – Pictet Bank uses a letterbox<br />company in <br /><br />Panama<br />and a tax loophole involving investments in London to gain<br /><br />German<br />millionaires as clients. <br /><br /> <br /><br />2012<br />- - - August ---- German Opposition Leader accuses Swiss Banks of<br />"organised crime." <br /><br />All<br />the fines that crooked Swiss banks have incurred in the last few<br />years exceeds £75.Billion. <br /><br />It<br />is also calculated that the secrecy " agreements" with<br />regards to tax evation by their clients will cost the banks another<br />£450 Billion.( paid out of your monies.)<br /><br />The<br />banks are panicking --- the are quickly restructuring their banks<br />---- from partnerships --<br /><br />to<br />" LIMITED COMPANIES." ----- this will probably mean that<br />in the future --- they could <br /><br />pay<br />you only 10% of your monies " if you are one of the lucky ones"<br />---- and it be legal.<br /><br />Google<br />---- The Crimes of ---- Pictet & Cie Bank.jack loachnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-23471353668241435792013-07-30T03:07:25.584-05:002013-07-30T03:07:25.584-05:00Great, Informative Post, like this one must be mai...Great, Informative Post, like this one must be maintained so I'll put this one on my bookmark list of <a href="http://www.ahmadlawllc.com/" rel="nofollow">affordable legal services</a>. Thanks for this wonderful post and hoping to post more of this. Have Great Day.Keirin Ahmadnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-56039542534793401082012-07-25T17:58:24.909-05:002012-07-25T17:58:24.909-05:00This is a very well-educated family who could have...This is a very well-educated family who could have gotten a second opinion, or indeed, walked away from this scheme, but didn't from sheer greed. None of them are financial fools. What is disturbing here is that the lawyer is being made out to be the heavy while it is really ALL of them that belong in jail. I would assume the Feds have checked their passports and done timelines over the years to determine when and what amounts were taken from the overseas accounts and brought into the country. (The family has a house in St. Martin for ex) Their attitude of entitlement and deception persisted for YEARS and the government needs to come down hard on them to make an example. Enough is enough.<br />PS and what about the complicity of the various spouses? Where are they in all of this??Muckraker2000noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-41722114945504563752012-06-11T23:46:02.820-05:002012-06-11T23:46:02.820-05:00Very observant. We are all entitled to our own opi...Very observant. We are all entitled to our own opinion. Clarymellisahttp://www.austin-car-accident-lawyer.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-55539965112072914012012-05-16T05:54:08.003-05:002012-05-16T05:54:08.003-05:00 As Jack points out, there have been several cases... As Jack points out, there have been several cases out of Florida. I doubt the relatively small amount of state tax (relative to federal tax) has much of an impact either way. And there are perfectly legal means of offshore asset protection that do NOT involve offshore evasion. <br /><br />I think part of it just might be the cluster and 'ethnic' effect. UBS seemed to have a number of Jewish customers based in the NYC area, and a number of Iranian American customers in the So Cal area AND focused a lot of resources on Florida. This is NOT to suggest that members of particular ethnic groups may be more likely to engage in tax evasion (although people who have had past histories involving unpleasant regimes may be more likely to keep money offshore), but its just a reflection of how UBS and HSBC marketed their 'services'.Anonnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-79714527700445628552012-05-16T00:42:21.168-05:002012-05-16T00:42:21.168-05:00According to my spreadsheet, there have been 16 de...According to my spreadsheet, there have been 16 defendants charged in SD-FL alone. Indeed, that district is the second highest in terms of charges. SD-NY is the highest with 20 defendants charged (indictments and complaints). And, of course, the UBS action was brought in SD-FL.<br /><br />I think there will be indictments in TX in the reasonably near future.<br /><br />I cannot give even informed speculation as to why there have been none in Texas yet. <br /><br />Best,<br /><br />Jack TownsendJackTownsendnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-12994363222766873702012-05-15T23:11:02.373-05:002012-05-15T23:11:02.373-05:00Jack,
I am not a frequent poster but I have a the...Jack,<br /><br />I am not a frequent poster but I have a theory I am curious as to what you think of a resident of Texas. Anecdotally in terms of major offshore tax cases very few of them seem to involve residents of Florida or Texas(I might be completely wrong its just I see a lot of offshore cases involving NJ, NY, and CA resident but not FL or TX). My theory, given the lack of state income tax in TX and FL the risk reward ratio for offshore tax shenanigans is simply not there given the effective 15% long term capital gains rate in both states. Additionally the unlimited homestead exemption provides an alternative mechanism of "asset protection." Again what I am saying might be total bunk in fact there was a recent case that was just announced out of Miami.Tim12278noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-85800627191693032242012-05-15T15:08:22.646-05:002012-05-15T15:08:22.646-05:00We don't know that much about the NJ Accountan...We don't know that much about the NJ Accountant and the Swiss Lawyer and how good they are at what they do. We know a little about Little (no pun intended) - he's over 60, has had a wide-ranging legal and financial practice, but tax doesn't seem to be his bailiwick. (See http://www.thelawyer.com/kings-bench-barrister-held-in-us-over-alleged-$10m-tax-fraud/1012573.article). <br />He couldn't have made that much money, either, as apparently he's can't make a $1m (or is it $2m?) bail - http://www.abajournal.com/news/article/lawyer_held_in_lieu_of_2m_bail_re_claimed_conspiracy_to_help_former_fidelit/.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-86761667847186767992012-05-15T09:26:44.734-05:002012-05-15T09:26:44.734-05:00Very astute analysis. You raise a good question. ...Very astute analysis. You raise a good question. My sense is that good lawyers would not work for that small of fees. Bad lawyers might, since they take what they can get.<br /><br />Good lawyers are not so blatant in their raids on the fisc. Take the case just decided yesterday, Hewlett-Packard Co. et al. v. Commissioner, T.C. Memo. 2012-135, Prestigious law firms with very good -- and very well compensated -- attorneys somehow lent their good offices to the transaction that the Tax Court ultimately pronounced to be hokey. For the HP opinon, see http://www.ustaxcourt.gov/InOpHistoric/HEWLETTPACKARD.TCM.WPD.pdf and for Lynnley Browning's article, see http://www.ustaxcourt.gov/InOpHistoric/HEWLETTPACKARD.TCM.WPD.pdf<br /><br />Jack TownsendJack Townsendhttps://www.blogger.com/profile/14469823736335455874noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-1165951910007168582012-05-15T07:23:02.086-05:002012-05-15T07:23:02.086-05:00Let me ask a question about the economics of provi...Let me ask a question about the economics of providing professional tax evasion services, if I may:<br /><br />Section 4(h) of the complaint states that between 2001 and 2009, Little, the Swiss Lawyer and the NJ Accountant were paid "tens of thousands of dollar of fees". Let's assume that "tens of thousands of dollars" means no more than $100,00 - so say $99,999; let's further assume that fees were divided equally between the defendant, the Swiss Lawyer and the NJ Accountant (not necessarily the case, obviously, but let's assume anyway) - that works out to $33,333 per individual. Let's further say that "between 2001 and 2009" includes both the beginning and ending year - that gives us a period of 9 years. <br /><br />If you do the math, all these alleged professional services netted each individual an average of $3,700 a year! Does that make sense? Even if you factor in free lunches and dinners at the Four Seasons, would a professional do all that (allegedly illegal) work for that little? Am I missing something?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-91785293311435245892012-05-12T21:22:04.408-05:002012-05-12T21:22:04.408-05:00No.
Jack TownsendNo.<br /><br />Jack TownsendJack Townsendhttps://www.blogger.com/profile/14469823736335455874noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-17151904163538527382012-05-12T17:00:25.220-05:002012-05-12T17:00:25.220-05:00Is there a case where an expat who has been upto d...Is there a case where an expat who has been upto date with his filing in the home country, owes little tax<br />been taken to the court by IRS so far?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-24020329737694442092012-05-12T13:46:56.185-05:002012-05-12T13:46:56.185-05:00Jack,
"Sealed compliant" is unknown ...Jack, <br /><br /> "Sealed compliant" is unknown to the accused until he/she is arrest --then it becomes unsealed ?<br /><br /> That would be scary for some expats who might come back for a family visit.ijhttp://ij.orgnoreply@blogger.com