Switzerland (German: Schweiz [ˈʃvaɪts]; French: Suisse [sɥis]; Italian: Svizzera [ˈzvittsera]; Romansh: Svizra [ˈʒviːtsrɐ] or [ˈʒviːtsʁːɐ]), officially the Swiss Confederation (Latin: Confoederatio Helvetica, hence its abbreviation CH), is a federal parliamentary republic consisting of 26 cantons, with Bern as the seat of the federal authorities, the so-called Bundesstadt aka "federal city". The country is situated in Western and Central Europe, where it is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east.
Posts about Swiss
  • Bribery & Corruption = FCPA Whistleblower Awards

    … Public bribery is an every day event in much of the world. Read the New York Post or Chicago Sun Times and it looks like a pretty common event in certain U.S. cities too. American companies and certain other multi-national businesses that bribe foreign officials can be prosecuted here in the United States for violating the Foreign Corrupt…

    Due Diligence- 16 readers -
  • Panama Papers… Who is Next (IRS Whistleblower Post)

    … Unreported offshore accounts have long been a tool of the rich hoping to evade taxes. While the average American struggles to make ends meet, a few ultra wealthy folks think it is perfectly acceptable to stash a few million bucks in a secret foreign bank account. Worse, offshore accounts are often used by terrorists, organized crime, corrupt…

    Due Diligence- 20 readers -
  • Swiss Convict Tax Whistleblower in Absentia

    … government. Unlike typical hacker who sell stolen account information to fraudsters on the black market, Falciani’s buyer was the government. In recent years there has been a huge push to combat tax evasion using foreign bank accounts. The United States leads that push and regularly prosecutes U.S. taxpayers with unreported offshore accounts. Having…

    Due Diligence- 17 readers -
  • Nevada and Wisconsin Men Convicted in $10 Million Fraud Scheme

    … of conspiracy, wire fraud and securities fraud. In the fraud scheme the two worked with a Swiss company, Malom Group AG (Malom an abbreviation for Make A Lot of Money). The team asked investors for up-front payment to access investment opportunities and to make cash loans for a profit. They were accused of forging bank documents to deceive investors…

    Eccleston Law Offices- 13 readers -
  • New Haven Register

    … funds, you will never forget his name once you read this column. What’s so special about Mr. Birkenfeld? The Internal Revenue Service paid him $104 million a few years ago, this after Mr. Birkenfeld had been sentenced to a term of imprisonment of almost three years for his own tax crimes. It was the bounty the feds paid for his blowing the whistle…

    Due Diligence- 26 readers -
  • The Long Arm of the IRS (Tax Evasion Post)

    … be reported. Foreign accounts are reported on one’s individual income tax return and on an FBAR, Report of Foreign Bank and Financial Accounts. The willful failure to file an FBAR is a felony punishable by up to 5 years. Taxpayers who create fictitious account names (called nominee entities or shell companies) can also be charged with tax evasion…

    Due Diligence- 41 readers -
  • More Swiss Banks Have Reach FATCA Deal with US

    … identified as being under investigation, the recipient of a John Doe summons or cooperating with a government investigation, including the execution of a deferred prosecution agreement or non-prosecution agreement,” as the Department of Justice stated in a recent press release. The agreed fines to be paid by the new compliant banks are $2.592…

    Due Diligence- 35 readers -
  • UBS Whistleblower Loses Round I of Lawsuit

    … the Justice Department has learned something from that incident. One of Birkenfeld’s former UBS clients was billionaire developer Igor Olenicoff. Shortly before UBS began cooperating with the Justice Department and IRS, Olenicoff was himself prosecuted. The charge? Filing a false tax return. Prosecutors say he failed to disclose $200 million…

    Due Diligence- 42 readers -
  • 2 More Swiss Banks Settle with US in FBAR Probe

    … with the Department of Justice and IRS. After Credit Suisse pleaded guilty and paid $2.6 billion in fines, other Swiss banks have been scrambling to cut deals and avoid criminal charges. All the banks are accused of assisting wealthy Americans evade taxes and avoid filing FBAR forms. An FBAR is a Report of Foreign Bank and Financial Accounts. FBAR forms…

    Due Diligence- 31 readers -
  • Two More Swiss Banks… FBAR Post

    … Are there any Swiss banks that haven’t agreed to cooperate with the IRS? Probably not! The push to find unreported foreign accounts began in 2009 with the deferred prosecution of Swiss banking giant, UBS. Bradley Birkenfeld, a former UBS private banker, blew the whistle on his former employer and promptly earned a $104 million whistleblower…

    Due Diligence- 13 readers -
  • Bank Linth and Bank Sparhafen Cooperate with IRS

    … is safe. If you have unreported accounts, the IRS will find you. Switzerland, Bahamas, India, Liechtenstein, Israel… the IRS is looking everywhere. Ditto no matter what the size of the bank or financial institution. The IRS has amnesty options including a Streamlined Reporting program and an Offshore Voluntary Disclosure Program. Assuming you can…

    Due Diligence- 37 readers -
  • Alleged Tax Evader Loses Transfer Bid (FBAR Post)

    … conspiracy last occurred in 2001 when Peter and Michael met with a Swiss financial consultant named Beda Singenberger and a UBS client advisor from Switzerland, Hans Thomann. The feds believe that Singenberger met with the brothers in New York and helped them hide their money offshore. If you have an unreported foreign account, it is easy…

    Due Diligence- 15 readers -
  • Don’t Miss the Next FBAR Deadline

    … to report information about accounts held by US taxpayers. This includes numerous Swiss banks and financial institutions based out of “fiscal paradises;” a kind of paradise the new legislation is steadily eradicating. A tax evasion report by the US Government Accountability Office revealed that by December 2012 the IRS’s offshore programs had resulted…

    Due Diligence- 11 readers -
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