HSBC Clients Scrutinized in U.S. Tax Evasion Probe
Lawyer News
The Department of Justice has opened a criminal investigation into whether some HSBC Holdings Plc clients may have failed to disclose offshore accounts, lawyers familiar with the probe said on Tuesday.
The London-based bank has become the latest focus of a widening federal probe into U.S. citizens believed to have stored billions of dollars of assets in offshore accounts to avoid scrutiny by domestic tax authorities.
HSBC clients have received a June 21 letter from Kevin Downing, a senior litigator at the Justice Department who oversaw the UBS probe, that says they are subjects of a criminal investigation. Reuters obtained a copy of the letter.
A Justice Department representative did not immediately return an email request for comment.
Last year, Switzerland's UBS AG admitted to criminal wrongdoing for helping U.S. clients evade taxes. It agreed to pay a $780 million penalty and hand over details on more than 250 client accounts, and later agreed to disclose names of 4,450 wealthy U.S. clients to tax investigators.
Related listings
-
Illinois couple guilty of $41M Best Buy fraud
Lawyer News 06/04/2010A federal jury has found an Illinois couple guilty of defrauding Best Buy out of $41 million by over-billing the Richfield-based company for computer parts. Russell Adam Cole, 50, and Abby Rae Cole, 53, of Deerfield, Ill., were found guilty Thursday ...
-
Chicago lawyer found guilty in tax shelter scheme
Lawyer News 06/04/2010A Chicago lawyer was found guilty Wednesday of conspiracy to commit tax fraud in connection with the sale of tax shelters.A New York jury also convicted John Ohle III, 42, of two counts of tax evasion for failing to report about $6.5 million in incom...
-
High court to hear Arizona school case
Lawyer News 05/25/2010The U.S. Supreme Court will consider ending a lawsuit that challenges Arizona's tax breaks for donations for thousands of private school scholarships.The Washington-based court on Monday said it will hear two appeals filed by the state and supporters...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.