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Weekly Roundup: U.S. Indicts Suspected Tax Evaders, OCC Dings Two Banks for BSA Problems, and More
printTaxes were in the fore of the news this week, and not just because of the annual arrival of the April 15 filing deadline for tax returns. The U.S. Justice Department made headway in four separate cases against 11 suspected tax evaders with accounts at UBS AG and HSBC. On Thursday, the Southern District Court of New York indicted seven former UBS AG clients on tax evasion charges. The individuals allegedly set up sham corporations located in Hong Kong, Liechtenstein or Panama to hide funds from the Internal Revenue Service. More than half of the defendants moved their funds to...
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