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Latest Tax avoidance and tax evasion Stories

2009-05-01 06:39:59

Swiss financial giant UBS, defending itself in a tax-evasion investigation, refused an IRS request to provide names of U.S. customers holding offshore accounts. In rejecting the request, UBS officials told a U.S. federal court Thursday the matter should be handled in negotiations between the two countries, the Financial Times reported. UBS submitted its respose to a legal demand by the Internal Revenue Service to reveal up to 52,000 accounts as part of the Obama administration's efforts to...

2009-04-21 16:53:00

WASHINGTON, April 21 /PRNewswire-USNewswire/ -- A federal grand jury has returned an 18-count superseding indictment charging Thomas E. Parenteau of Columbus, Ohio; Dennis G. Sartain of Hilliard, Ohio; and Bonnie Helt-Adams of Dublin, Ohio, with tax fraud, bank and wire fraud, money laundering and obstruction of justice, the Justice Department and Internal Revenue Service (IRS) announced today. Parenteau and Sartain were indicted in September 2008 for an obstruction of justice conspiracy and...

2009-04-17 15:35:36

Former Indy 500 winner Helio Castroneves was one of three people acquitted Friday in a federal trial on tax evasion charges, The Miami Herald said. Castroneves and his sister, Katiucia, had been accused in a federal indictment of failing to report over $5 million in income to the Internal Revenue Service, while Alan R. Miller, his attorney, was accused of tax evasion and conspiracy to defraud the United States. The IRS said Castroneves, a former Dancing with the Stars contestant, owed $2.3...

2009-03-27 10:08:20

Swiss Bankers Association Chairman Pierre Mirabaud called international efforts to rein in tax evaders with foreign accounts an economic war. We have been very successful and we are making many of our competitors jealous. So this is an angle to attack, an economic war to gain market share, Mirabaud told The Washington Times. Swiss banks handle the largest share of offshore accounts, amounting to $2.42 trillion, or 27 percent of the global market, the Times said. The Swiss government said...

2009-03-02 15:27:05

A tax evasion trial for two-time Indy 500 winner Helio Castroneves of Brazil began Monday in Miami. Castroneves, his sister, Katiucia Castroneves and attorney Alan Miller are charged with forming a conspiracy to evade paying taxes on more than $5 million of the racer's income earned from driving and licensing agreement with the Penske Team, The Miami Herald reported. If they are convicted on charges of evading taxes between 1999 and 2004, Castroneves, 33, a former winner on the U.S....

2009-02-27 14:20:00

WASHINGTON, Feb. 27 /PRNewswire-USNewswire/ -- After nearly 13 years as a fugitive, a former New Jersey resident has been returned to the United States, and pleaded guilty today to conspiring to committing one of the nation's largest known motor fuel excise tax schemes, Acting Assistant Attorney General Rita M. Glavin of the Criminal Division announced. Aaron Misulovin a/k/a Albert Friedman, a/k/a Valery Vibornov, pleaded guilty before U.S. District Judge Joseph E. Irenas in Camden, N.J., to...

2009-02-16 09:55:02

A tax evasion investigation in Japan widened to include the possibility of firms receiving kickbacks for securing construction project contracts, sources said. Norihisa Oga, president of consulting firm Daiko, allegedly received tens of million of yen from Nishimatsu Construction Co. in return for securing four contracts with Canon Inc.,The Yomiuri Shimbun reported Monday. A major construction firm, Kajima Corp., is alleged to have paid billions of yen in return for Daiko and two other firms...

2009-02-12 15:28:56

A federal judge in Los Angeles has released Girls Gone Wild video entrepreneur Joe Francis from house arrest and delayed his trial on tax evasion charges. U.S. District Judge S. James Otero announced his decision at a court hearing Wednesday, said a spokesman for Francis's company, Mantra Films Inc., that produces the sexually titillating videos. The federal judge had kept Francis, 35, in custody overnight and then imposed house arrest after he arrived several hours late for a Feb. 3 court...

2009-02-09 14:20:26

Japanese prosecutors arrested five people Monday allegedly involved in a tax evasion scheme worth $3.1 million. Those arrested included Hideo Namba, president of Naniwa Consultants International Co., Kyodo news reported Monday. Norihisa Oga, president of consulting firm Daiko, was also involved in the scheme, prosecutors allege. Allegedly, Daiko hid $10.5 million of income, including money the company received from commissions from Kajima Corp, involving construction projects at Cannon Inc....

2009-01-29 11:09:00

WASHINGTON, Jan. 29 /PRNewswire-USNewswire/ -- A Las Vegas federal grand jury has returned an indictment charging Alan Rodrigues, a former pit boss and casino owner from Henderson, Nev.; Weston Coolidge, a businessman from Las Vegas; and Joseph Prokop, a former National Football League punter from Upland, Calif., with a tax fraud scheme for their promotion of a fraudulent tax product through the now defunct National Audit Defense Network (NADN), the Justice Department and Internal Revenue...


Word of the Day
humgruffin
  • A terrible or repulsive person.
Regarding the etymology of 'humgruffin,' the OED says (rather unhelpfully) that it's a 'made-up word.' We might guess that 'hum' comes from 'humbug' or possibly 'hum' meaning 'a disagreeable smell,' while 'gruffin' could be a combination of 'gruff' and 'griffin.'