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The DOJ has opened criminal invesitgations on 100 wealthy Americans with accounts in Swiss Bank,UBS, per the NY Times.

It seems that they have a few whistleblowers who were at one time bankers....there's more, follow me

This is good news.  As a former CID employee with IRS, I know that the information they will be trying to secure from these informants will include information about our current financial crisis as well.  This is how CID operates.  Cases start out as just income tax fraud, but end up including many other fraudulent charges.  My hope is that they will be able to ascertain what  happened to our financial system and the names of some of the players.

The article also indicates that some of the  informants have duel citizenship and are considered a flight risk.  UBS has already informed them that their names had been turned over to the IRS.  They need not worry about the 285 or so being a flight risk, I can guarantee you that they are under surviellance even as I write this.  The other 52000 though could cause a problem if they feel that their information will be turned over to the U. S. government.

I read earlier yesterday that one of the things that Brown and Obama discussed was the off shore havens of tax evaders.  So hopefully there can be some agreement with all countries involved.  If you think about it, all of the governments are losing money.

I was not aware that IRS has offered a type of "amnesty" to those with accounts offshore if they 'fessed' up before a certain date.  The article indicates that IRS is pushing for people to come forth by June 30 to avoid the usual penalties involved.  Hopefully this would give some people the push they need to come forward.

UBS shared over 285 account holder names with the IRS; however UBS is fighting the DOJ and IRS who have requested an addtional 52000 names..wow...so many greedy crooks....I bet this is only the "tip of the iceberg".  Worldwide there are probably at least one million greedy buggers with hidden funds.  At least.

The US Tax Code allows the IRS to easily go after the little man (wage earners mostly) because all they need do is levy their wages and bank accounts. IRS does not hesitate to swallow the little man while coddling the real criminals.  I know, I was an employee for over 25 years.

I personally hope that the government is successful in bringing these folks to justice.

Please take the time to read the article.  You won't regret it!

U.S. Said to Start UBS Tax Fraud Cases

Originally posted to rubthorn on Wed Apr 01, 2009 at 10:43 PM PDT.

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Comment Preferences

  •  Tip Jar (13+ / 0-)

    In this current economy, we all need to pay our fair share.

    To all my ancestors who have moved from "sense to soul", a mountain of gold could not repay you.

    by rubthorn on Wed Apr 01, 2009 at 10:44:39 PM PDT

  •  CID? n/t (2+ / 0-)
    Recommended by:
    AllisonInSeattle, FarWestGirl

    "Certainly the game is rigged. Don't let that stop you; if you don't bet, you can't win." Lazarus Long

    by rfall on Wed Apr 01, 2009 at 10:53:50 PM PDT

  •  100? 285? 52000? Me confused (0+ / 0-)

    How do these numbers relate to each other and the overall picture?

    And why do lawyers write in stylistic shorthand? :-)

    He who tills his land shall have plenty of bread, but he who chases fantasies is void of understanding. (Proverbs 12:11)

    by kovie on Wed Apr 01, 2009 at 11:24:57 PM PDT

    •  Try this (2+ / 0-)
      Recommended by:
      FarWestGirl, merrily1000

      The DOJ has opened investigations on 100 wealthy Americans for tax evasion.

      (The 100 figure.)

      UBS (Swiss bank entity) turned over 285 names to the IRS as possibly involved in tax evasion.

      (The 285 figure.)

      The IRS wanted 52,000 names from UBS -- who they suspect of tax evasion. But UBS hasn't forked those names over yet.

      (The 52,000 figure.)

      Be good to each other. It matters.

      by AllisonInSeattle on Thu Apr 02, 2009 at 12:47:06 AM PDT

      [ Parent ]

      •  Feeling sarcastic tonight, are we Allison? (0+ / 0-)

        Hey, I just happen to like reading diaries that don't feel thrown-together. So sue me.

        :-P

        Oh, wait, I bet you're a lawyer and took it personally!

        Never mind. Sheesh.

        And it's an indisputible fact that most lawyers are terrible writers.

        :-)

        He who tills his land shall have plenty of bread, but he who chases fantasies is void of understanding. (Proverbs 12:11)

        by kovie on Thu Apr 02, 2009 at 01:15:55 AM PDT

        [ Parent ]

        •  Look, I spent time trying to be helpful (1+ / 0-)
          Recommended by:
          kovie

          The article as written made sense to me. I thought maybe that was because I'd read about the material before, and could simplify into outline form.

          I'd prefer this to some thing that you scroll through pages of info, interspersed with 4 videos to watch.

          But people are different, very different.

          Not an attorney... editor. Thus the urge to try to clarify, sorry it didn't work for you.

          Be good to each other. It matters.

          by AllisonInSeattle on Thu Apr 02, 2009 at 04:23:23 PM PDT

          [ Parent ]

          •  I was referring to the diary, not the article (0+ / 0-)

            I thought I made that clear. The article was clear enough, but the diary was not. Being new at diaries, the diarist can be forgiven, but as an editor I'm sure that you're the first to admit that constructive criticism, while it might sting, is ultimately necessary and helpful. One of my pet peeves is unclear writing--yours too, I'm sure--and when I think that it would be taken well and might help, I try to point it out, which I did. That I did so snarkily was more a reflection of the time of day that I wrote it, and how tired I was, than of any malicious intent on my part.

            I'm also looking at such things in terms of the bigger issue of how they figure into the gradual replacement of today's establishment media by emerging alternative media. I think that it's going to happen, and is all but inevitable, and that the more we each do to improve the overall quality of blog writing and speed this along, the better it will be for all. Again, something I'm sure that you'd agree with. There's an enormous amount of potential out there in the blogosphere and other alternate media venues, that need to be nurtured along, in terms of both substance and style.

            Think of me as a self-appointed Strunk & White of the intertubez... :-)

            Which I suppose must strike you as odd and presumptive since you're the editor. But in the blogosphere, everyone's a writer, editor and critic. It's why it's so much fun.

            Anyway, no biggee. I was mostly just teasing you. ;-)

            He who tills his land shall have plenty of bread, but he who chases fantasies is void of understanding. (Proverbs 12:11)

            by kovie on Thu Apr 02, 2009 at 04:55:22 PM PDT

            [ Parent ]

            •  I thought the diary was a condensed version (0+ / 0-)

              of the facts, with the diarist adding a little bit of his personal insider perspective.

              I'm not into perfect. I can't abide it. In person or writing. This will seem OT, but look at Michelle Obama. She's just being herself. She's genuine. That's what makes her charismatic, that's what gives her value as a human being. Obama is the same type person.

              Now -- this diary was valuable and fascinating to me because it was a unique insider perspective. A little window into a world I don't inhabit. Neat! I don't care if it conforms to formula A or B or someone's "should be this long" or whatever.

              See how I might edit, now? To bring out the person's unique, true voice. Not to make work more stilted.
              The idea that there's but one good way to write a diary to me would cheapen the variety and splendor of it all.

              Be good to each other. It matters.

              by AllisonInSeattle on Fri Apr 03, 2009 at 12:29:36 AM PDT

              [ Parent ]

              •  On that we clearly disagree (0+ / 0-)

                It's why I don't read "What I did today" and "What my cat did today" blogs, or twitter. I could care less about the random and spontaneous ramblings of people that I don't know. Nothing against them, and I'm sure that they're great people, but such unscripted minutae are what friends and relatives are for. From strangers to whom my only connection is electronic, I expect some effort at putting together a coherent narrative that draws me in and respects the reader, like a good book or article.

                Note that I didn't think that the diary was terrible. And being a diary it certainly didn't have to live up to New Yorker standards. I just thought that it was a bit too loosely strung together, and could have benefitted from 10 more minutes of editing. But that's just me, I guess. I'm not judging people who disagree with this. I'm just saying that this is what I prefer. And I'm hardly the only one, which is why my call for a bit more clarity was, I think, not uncalled for. I honestly don't know why this seems to bother you so much. I seem to have hit a sore note without even trying to.

                Why don't we just agree to disagree?

                He who tills his land shall have plenty of bread, but he who chases fantasies is void of understanding. (Proverbs 12:11)

                by kovie on Fri Apr 03, 2009 at 04:00:33 AM PDT

                [ Parent ]

    •  Or, "IRS trying to get names of many Americans (0+ / 0-)

      suspected of using Swiss banks to hide their money, and evade taxes."

      How's that?

      Be good to each other. It matters.

      by AllisonInSeattle on Thu Apr 02, 2009 at 12:48:12 AM PDT

      [ Parent ]

  •  Also (2+ / 0-)
    Recommended by:
    AllisonInSeattle, rubthorn

    You need to paste the article link like this to have it show up properly in your diary:

    <a href=http://www.nytimes.com/2009/04/02/business/02ubs.html">U.S. Said to Start UBS Tax Fraud Cases </a>

    Which gives you:

    U.S. Said to Start UBS Tax Fraud Cases

    He who tills his land shall have plenty of bread, but he who chases fantasies is void of understanding. (Proverbs 12:11)

    by kovie on Wed Apr 01, 2009 at 11:28:58 PM PDT

  •  Fascinating. (1+ / 0-)
    Recommended by:
    FarWestGirl

    Keep us posted. Appreciate the insider look.

    Be good to each other. It matters.

    by AllisonInSeattle on Thu Apr 02, 2009 at 12:42:03 AM PDT

  •  asdf (2+ / 0-)
    Recommended by:
    rubthorn, merrily1000

    but end up including many other fraudulent charges.

    I'm assuming you mean charges of fraud? It does make a difference and I wouldn't put the other past the IRS or any other gov't agency if they thought they could get away with it.

    One of the first things Obama promised after the elections was to crack down on tax havens, so there he goes keeping promises again. ;-)

    Thanks for the update.

    Information is abundant, wisdom is scarce. The Druid

    by FarWestGirl on Thu Apr 02, 2009 at 02:46:38 AM PDT

  •  NOT CAMPAIGN CONTRIBUTORS (0+ / 0-)

    I am guessing that the 100 who are being investigated didn't give enough campaign contributions (hush money) to one or both of the political parties. On a seperat but possibly related point, I saw that Ted Stevens got his "get out of jail free" card. I suppose he knows how to play the game.

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