Italians gripped by leaks naming Liechtenstein account holders

Italians are calling it the “trickle-down effect” as names of holders of Liechtenstein bank accounts are leaked to the press, including politicians, entertainers, industrialists and even a dog called Gunther.

Denials and clarifications are hitting the headlines as the leaks keep pouring out, with the Italian media not in the least shy about releasing names before checking with the alleged holders at Liechtenstein’s Bank LGT.

Tax investigators note that holding an account itself is not illegal, but are still poring over some 400 Italian names obtained from the UK government to see if they were tax compliant.

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March 20, 2008 | Filed Under tax haven