Annette Bongiorno and Joann "Jodi" Crupi, both long-term employees at Bernard L. Madoff Investment Securities, were arrested Thursday and charged with multiple counts of conspiracy, securities fraud, falsifying documents and tax evasion.
German prosecutors raided all 13 Credit Suisse branches in the country on Wednesday as part of a probe into tax fraud. Earlier this year, German authorities acquired information on some 1,500 Credit Suisse customers who may have been using the Swiss accounts to avoid paying taxes.
At least one client received a letter from the Justice Department saying the department had reason to believe the person held accounts overseas without reporting them to the IRS. The letter did not mention HSBC.
Freshly sprung from a minimum-security prison after completing most of a four-year sentence for fraud, tax evasion, and bribing public officials, former lobbyist Jack Abramoff now lives in a halfway house and toils in the back office at Tov Pizza, a kosher pizzeria in Baltimore.
The IRS has seen a surge in tax informants since a law was passed in 2006 offering a potential reward of 15% to 30% of the money collected in excess of $2 million. Delinquent taxpayers: Watch out!
Five clients of Swiss bank UBS received criminal indictments for tax evasion Thursday in what may ultimately become a dragnet of sorts for those caught up in the overseas asset concealing scandal, according to a report in The Wall Street Journal. Two others are expected to plead guilty.
Swiss bank UBS may not have to turn over the names of 4,450 clients to the IRS after a Swiss court ruled that failing to file an U.S. W-9 isn't tax fraud. But the threat alone may have gotten the IRS a bigger prize: Data from the thousands of delinquent taxpayers who came forward during the recent tax amnesty.