Six Corporate Executives and Six Corporate Entities Indicted for Orchestrating a $500 Million Offshore Asset Protection, Securities Fraud, and Money Laundering Scheme

There are those who use foreign accounts to shield their assets from the IRS, because they believe they will never get caught. They think the IRS is in disarray and that they don’t have the resources to aggressively go after offshore cheats. However with FATCA, the playing field has changed. In this particular case, not only was the IRS criminal investigation unit involved, but also the the FBI,  the U.S. Immigration and Customs Enforcement (ICE), and Homeland Security Investigations (HSI).

These suspects were so confident they would not get caught that they bragged about their achievements to their clients. With this indictment, Loretta E. Lynch, United States Attorney for the Eastern District of New York, is sending a clear message to all others who think they can get away with this crime, “Today’s sweeping indictment, charging the individuals and companies responsible for this $500 million scheme, closes this fraudulent offshore safe haven and sends a strong message to those who seek to abuse the financial markets in order to enrich themselves that we will investigate and prosecute them no matter where they set up shop.”

If you are or anyone you know has still not declared their offshore holdings, call the The Wolfe Law Group right now.

For complete FBI Press Release click here

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