Wednesday, February 20, 2013

Required Records Subpoenas Enforced (2/20/13)

Judge Pauley of SD NY has ordered compliance with 5 required records subpoenas issued by an  SD NY grand jury.  In re Various Grand Jury Subpoenas, 924 F. Supp. 2d 549 (D.N.Y. 2013), here. From the opinion:
The Subjects contend that these records are not customarily kept by foreign bank account holders who wish their accounts to remain secret. But they cite no authority for this proposition.
I would have thought the contention was an obvious proposition that would not have required authority..

Readers will recall that there is pending now a petition for certiorari on the Seventh Circuit decision.  Petition for Cert filed in FBAR Required Records Case (Federal Tax Crimes Blog 1/18/13), here.

The opinion is relatively short because the ground is well-traveled and new ground is not covered.

The original article informing me of this opinion is Patricia Hurtado and Christie Smythe, Grand Jury Probing Foreign Bank Accounts, U.S. Judge Says (Bloomberg 2/20/13), here.


  1. Just curious, assuming that appeals fail, do you think this issue will ever wind its way up to the Supreme Court?

  2. "I would have thought the contention was an obvious proposition that would not have required authority.."

    Apparently not. The Judge writes:

    "And they are precisely the types of records that a reasonable bank account holder would customarily keep. M.H., 648 F.3d at l076; see also In re Grand Jury Subpoena dated Feb. 2, 2013, --- F. Supp. 2d ----, 2012 WL 6106332, at *7."


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