IRS Seeks Names of Stanford Investors Who May Have Hidden Accounts Overseas

[malaise]

http://abcnews.go.com/Blotter/irs-seeks-names-allen-stanford-investors-hidden-accounts/story?id=9251842
<snip>

By MEGAN CHUCHMACH
Dec. 4, 2009

U.S. officials are continuing a crackdown on Americans who evade taxes by hiding assets in offshore accounts, this time going after clients of accused Ponzi scammer Allen Stanford.

Robert Allen Stanford arrives for a bond hearing at the Bob Casey Federal Courthouse June 25, 2009... Expand
Robert Allen Stanford arrives for a bond hearing at the Bob Casey Federal Courthouse June 25, 2009 in Houston, Texas. U.S. officials are continuing a crackdown on Americans who evade taxes by hiding assets in offshore accounts, this time going after clients of accused Ponzi scammer Allen Stanford.

The Justice Department asked a federal court this week to let investigators seek the identities of individuals who held accounts with Stanford, the same tactic used in the UBS tax case that eventually netted access to names of 4,450 U.S. clients.

"This is another crucial step in our ongoing effort to pursue hidden offshore accounts," said IRS spokesman Frank Keith. The action, he added, "will not only help us pursue those who evade their taxes, but also aggressively identify third parties and others who assist with these illegal actions."
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Meanwhile
http://www.chron.com/disp/story.mpl/business/6759317.html
<snip>

Ralph Janvey, the court-appointed receiver for alleged swindler R. Allen Stanford's businesses, has filed new claims against investors who refused to turn over interest they'd earned on certificates of deposit bought from Antigua-based Stanford International Bank Ltd.

In a revamped complaint filed yesterday at the U.S. District Court in Dallas, Janvey told the court that those who got more money back from their Stanford CDs than they invested were unjustly enriched.

“The CD proceeds the Stanford investors received from SIBL were not, in fact, the actual principal or interest earned on the funds they invested. Instead the money used to make those payments came directly from the sale of SIBL CDs to other investors,” according to the complaint.
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Lock up all the crooks.

[madokie]

1. Every damn one of them

lock 'em all up and throw away the keys. they keep our jails full of non violent offenders and let these bastids run free and what they are doing is not equal to non-violence, it's much worse

[malaise]

2. Yep like the judge sending youngsters to prison

for graffiti - that really sucks.