U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.
Shele Danishefsky Covlin, 47, a UBS wealth manager, was found dead in her upper West Side bathtub on New Year’s Eve 2009.
Faced with a number of cases of denial of secret foreign bank account holdings, the Income Tax department has decided to re-open past tax returns of such individuals in Mumbai and Delhi among others, in order to unearth black money stashed abroad.
Judge Malcolm Wallis, who wrote the judgment, with four other judges concurring, found that Acting Judge AJ de Vos had erred in rejecting the FSB application.
Pierre Lagrange, a co-founder of GLG Partners Inc., said in a complaint filed yesterday in Manhattan federal court that he paid $17 million for a painting called "Untitled 1950" from Knoedler in November 2007 that the gallery said was by Pollock
In 2004, Muston had set up a £200,000 trust fund through an IFA in Birmingham, which was later taken over by Barclays Wealth. Aviva, the fund provider, then paid an initial commission of £5,000 to the IFA.
Swiss banks need to know what the U.S. is accusing them of to be able to negotiate a solution, Nicolas Pictet, president of the Swiss private banking association and a managing partner at Pictet & Cie. told Aargauer Zeitung in an interview.
The Greens have been riding high in opinion polls and could be well-positioned to form a coalition with their preferred partners, the centre-left Social Democrats (SPD), or Chancellor Angela Merkel's conservatives (CDU/CSU).
Earlier this year, Sars announced that only 360 individuals earning more than R7-million a year, or with assets in excess of R75-million, were registered to pay tax.