Featured Tax Evasion

US Treasury Offers Little Wiggle Room on Foreign Bank Reporting

The Treasury Department doesn’t have any near-term plans to relax foreign banks’ obligation to report information about U.S. account holders, despite European Union leaders’ concern about hardships that result for some Americans. The Foreign Account Tax Compliance Act was enacted to help the U.S. government enforce laws requiring U.S. citizens… Read More

Accused Mexican money launderer loses bid for refugee status in Canada

It was August 2016 and wealthy Mexican businessman Moises Mansur Cysneiros was in Vancouver, exploring whether to move his family here for “a different cultural experience.” He got a call from his Mexican tax lawyer, Jose Juan Janeiro Rodriguez, urging Mansur to fly to Toronto “to discuss certain tax matters… Read More

The Northern Irish ghost companies that mask crime worldwide

By David Leask, Peter Geoghegan and Richard Smith openDemocracy — Nikolai Sukhanov is used to flags of convenience. The flags of many nations flutter from the stern of ships on the docks and quays of Nakhodka in Russia’s far east. Owners often register their vessels thousands of miles from home, in countries… Read More
26th March 2020
“This was a collective case of thievery from state coffers”—so declared presiding Judge Roland Zickler of the Bonn criminal court in December 2019 at the trial of Martin Shields and Nicholas Diable, two British traders charged with aggravated tax evasion in Germany’s biggest post-war fraud prosecution. Although this was only… Read More
25th March 2020
The misuse of legal structures for illicit activities has been the subject of intense global scrutiny since the release of the Panama Papers in April 2016 and the Paradise Papers in November 2017. Since then, the requirements around the identification of the UBOs (ultimate beneficial owners) of legal entities have… Read More
24th March 2020
Most EU member states have failed to meet a legal deadline to introduce public registers of the real owners of companies, a transparency measure seen as key to fighting money laundering, according to a review by anti-corruption campaigners. In May 2018, the European Union passed a directive obliging member… Read More
23rd March 2020
Luxembourg’s parliament on Saturday voted in favour of new laws to implement EU rules increasing reporting duties on cross-border tax arrangements and stepping up the fight against money laundering. After Tuesday’s session was cancelled because of the pandemic, parliament convened over the weekend to vote on a package of laws. This… Read More
23rd March 2020
Deutsche Bank AG said five former management board members are under investigation for tax evasion, days after the first two bankers were convicted in Germany’s long-running Cum-Ex scandal. The bank disclosed the information in its annual report Friday without identifying the board members. The bank said it may also… Read More
20th March 2020
European Union regulations don’t prevent countries from confiscating assets from someone charged with civil offenses or not yet convicted of a crime, the EU’s highest court ruled Thursday. The question before the five-judge panel of the European Court of Justice was whether Bulgaria was allowed to confiscate assets from Tsvetan… Read More
20th March 2020
Israel’s biggest bank, Hapoalim, (POLI.TA) said on Wednesday it expects to pay $870 million to settle a U.S. tax evasion investigation. The bank said in a regulatory filing it will increase its provision for the tax probe in the fourth quarter to $259 million, in addition to $611 million… Read More
19th March 2020
Two former London investment bankers were convicted of tax evasion at Germany’s first trial over so-called Cum-Ex trades in a landmark ruling that could lead to hundreds more cases. The bankers, Martin Shields and Nicholas Diable, were able to avoid jail by cooperating with prosecutors. The Bonn court gave both… Read More
12th March 2020
By Heather Vogell, ProPublica and Katherine Sullivan, WNYC The Trump Organization paid bribes, through middlemen, to New York City tax assessors to lower its property tax bills for several Manhattan buildings in the 1980s and 1990s, according to five former tax assessors and city employees as well as a… Read More
12th March 2020
The two former investment bankers standing trial in Germany over their role in controversial dividend-tax deals have sought to avoid jail time by cooperating with authorities. Now the pair face another threat: a massive, 207 million euros ($233 million) tax bill slapped on them by the Federal Tax Office. Martin… Read More