Wednesday, December 1, 2010

Offshore Charges / Convictions Spreadsheet

I offer readers a spreadsheet (see links at right for the current version) where I have attempted to compile certain data regarding the Government's charges and convictions in the offshore account initiative.  I caveat the use of this spreadsheet in that the information is incomplete and perhaps even wrong in some of the particulars.  I request that my readers to email me at to advise any additional information needed to make it more complete and accurate.  As I am advised or have my own updates, I will post new versions.  Also, I am adding some statistical analyses periodically as I refine the spreadsheet.

I recommend that users download the file rather than just open it from the web.  Downloading it and using it on your local computer is the best way to use all the features (particularly the sorting and database functions in the excel table on page 1 of the file and reviewing the statistics on page 2 of the file).

Thanks in advance for those of you who help me make this spreadsheet more accurate and complete.


  1. Thanks for posting this. Very interesting.

  2. The fact that there has been only 33 criminal cases brought against individuals in the offshore tax evasion arena is just UNBELIEBABLE. Offshore tax evaders run a greater risk of being hit by lightening on a sunny day than getting into trouble for their crimes. Obviously many (if not all) of the individuals who participated in the Amnesty program having paid all their income taxes but just failed to check the FBAR box on their 1040s and therefore failed to file their 90.22-1 forms with the Department of Treasury are feeling very betrayed. The IRS has been assessing the huge FBAR penaltites on all of these folks who have self reported even where they owed no inocme tax whatsoever. The true tax criminals are getting a total pass. This is beyond disappointing, it is outrageous. Although the Commissioner of the IRS has just recently stated that they are now gearing up to prosecute the 4000+ cases received from the turnover from UBS and has stated that it has many other banks in its sights, the truth is that neither the IRS nor the DOJ have suffiencent staff or the ability to handle the true criminal cases.

  3. Good idea Jack. Your sheet clearly illustrates a sparsity of prosecutions and lenient sentences. The odds may favor being a tax cheat! Mr. Birkenfeld received one of the most significant sentences so far, and he turned in most of the others. Shame, shame, shame.

    The Wiley brothers are being prosecuted by the SEC, not the DOJ/IRS it seems, for blatant tax evasion: Your sheet will illustrate the DOJ's lack of initiative, as the people wait, watch and hope for some justice.

    Bit like waiting for monsieur Godot methinks.

  4. Great work Jack. If I were you, I would seriously consider sending this to the NYT, WSJ and Bloomberg. As Susan K. Smith says, this is truly disgraceful. Better still forward it to WIKILEAKS, which seems to get disproportionate attention. As another of your readers says SHAME SHAME SHAME, which I second.

  5. Additional information which would allow for some interpretations would be
    (1) whether a voluntary disclosure was attempted
    (2) peak account value
    (3) better detail on the source of funds - skimming vs. paying consulting fee, etc.
    (4) Defendant's age

  6. Seems your post is timely as the WSJ has a related story this morning.

    Great idea to highlight the questionable DOJ actions.


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