tag:blogger.com,1999:blog-1519969502186924526.post8393304123803611093..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: Another UBS Client Pleads (1/8/13)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-1519969502186924526.post-55527005666551242522013-01-17T20:09:25.742-06:002013-01-17T20:09:25.742-06:00Oh, please. Her husband died in 2000 and the alle...Oh, please. Her husband died in 2000 and the alleged wrongdoing continued through 2007 and involved not only UBS, but multiple offshore foundations. This was a a nightmare of her own creation, not one that landed on her lap.Johnnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-7774508898599862562013-01-17T17:45:57.645-06:002013-01-17T17:45:57.645-06:00Yes, she could be ordered to sign documents that, ...Yes, she could be ordered to sign documents that, if the Swiss bank honors the document, should release the funds. Should she not do that, she could be held in contempt.<br /><br />Of course, she pled guilty to put the matter behind her, so it is unlikely that the Government would have to press for that type of order. And, correspondingly, unless she is very stupid, she will meet her commitment not to dissipate.<br /><br />Jack TownsendJack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-58466360402853226342013-01-17T12:08:37.785-06:002013-01-17T12:08:37.785-06:00The statement that the defendant agrees "not ...The statement that the defendant agrees "not to conceal, transfer, or dissipate funds" implies that she would have the ability to do so. Jack, could you elaborate on the US' "ability to incentivize the US taxpayer"? Could she be ordered to turn over the funds and be jailed until she does so?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-1473545051609919052013-01-12T23:28:13.219-06:002013-01-12T23:28:13.219-06:00http://www.google.com/url?sa=t&rct=j&q=lie...http://www.google.com/url?sa=t&rct=j&q=liechtenstein%20%20500%2C000&source=web&cd=7&cad=rja&ved=0CFMQFjAG&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2012-06-10%2Fliechtenstein-informs-bank-clients-of-u-dot-s-dot-tax-evasion-request&ei=rEXyUILrGuLw2gWP_oCoBQ&usg=AFQjCNG_J23EgU6XvdrRfS6dIhPVpK6Gew&bvm=bv.1357700187,d.b2Idisqus_QhH2iIp6LCnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-47437394437336780432013-01-11T06:19:10.464-06:002013-01-11T06:19:10.464-06:00I wonder why this case took so long to resolve. Is...I wonder why this case took so long to resolve. Is the government just playing out these deals to get announcements during tax season ? <br /><br /><br /><br />Its possible that the client tried to get a better plea offer and dragged the process out although I presume at some point DoJ would bring the hammer down.Researchernoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-4047239109414429792013-01-09T11:06:34.946-06:002013-01-09T11:06:34.946-06:00As I noted in the earlier response, she had attorn...As I noted in the earlier response, she had attorneys of great repute. The Government apparently had a strong hand and imposed the result it typically imposes. The quality of the attorneys probably could not have affected the outcome materially, at least at the plea agreement stage.<br /><br />The U.S. does not have the ability to seize funds in foreign banks. The U.S. does have the ability to incentivize the U.S. taxpayer to turn them over.<br /><br />Jack TownsendJack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-38429944643273370422013-01-09T11:03:48.285-06:002013-01-09T11:03:48.285-06:00I can't speculate on whether the client just w...I can't speculate on whether the client just wanted it over, although my experience is that that is a feeling of many clients who plead rather than go to trial. In pleading, the larger question that must be addressed is, whether or not the client is guilty, can the Government prove guilt. If there is a high likelihood that the Government can and there are no countervailing defense or mitigating factors that might cause a jury to acquit anyway, then a plea is the logical choice. Mixed with that logic, of course, is wanting to get it over.<br /><br />Roy Black does have an outsized reputation. I have no idea whether it is deserved, but he does have the reputation. Of course, another attorney was Nathan Hochman who is one of the country's leading criminal tax lawyers (and was formerly DOJ's AAG Tax. So, Mrs. Curran was well-represented.<br /><br />Having said that, the Government apparently had a strong hand to play and yet, except for the insistence on two plea counts (6 year max), got basically the same monetary deal it gets in other cases -- cooperation on back income taxes (back to 2001, which may be unusual) and an FBAR penalty of 50% of the high balance. So, I am not sure what was really achieved by the superstar defense team other than giving the client some assurance, at great cost, that no reasonable stone was left unturned and no expertise not exploited.<br /><br />I hope there will be some information coming forward that will give observers such as me a better understanding of the nuance, but having said that, it seems like the standard deal except for the 2 counts. And, as to the 2 counts, I doubt that the additional count will affect the actual sentence -- i.e., she will likely get a sentence well below 36 months (the max for 1 count).<br /><br />Jack TownsendJack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-78847559800892712932013-01-08T22:44:30.193-06:002013-01-08T22:44:30.193-06:00Wow, following up on my prior comment... on of her...Wow, following up on my prior comment... on of her attorneys was Roy Black.<br /><br /><br />Jack - Do you believe this was a case of client "just wanting it over"? <br /><br /><br /><br />As you have pointed out, there seems to be many problems with this plea.JT SEOnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-49159981243362238392013-01-08T22:34:32.744-06:002013-01-08T22:34:32.744-06:00Just another example of inheriting a nightmare. ...Just another example of inheriting a nightmare. This has been the situation in a few (many) cases.<br /><br /><br />With the amount of money involved, and the resulting penalty, she should have gotten better representation. No one can dispute this case definitely involved a whale... regardless of prior definitions invoked in the comments... $40M is a whale :)<br /><br />Does anyone know what happened to the funds in these cases? Does the US have any ability to seize funds, in tax cases, from the foreign banks?JT SEOnoreply@blogger.com