Day of Reckoning? Super Rich Tax Cheats Outed by Bank Clerk

raves +5   by HairlessKat
Hundreds of super-rich American tax cheats have, in effect, turned themselves in to the IRS after a bank computer technician in the tiny European country of Liechtenstein came forward with the names of US citizens who had set up secret accounts there, according to Washington lawyers investigating the scheme.
The bank clerk, Heinrich Kieber, has been branded a thief by the government of Liechtenstein for violating the country's bank secrecy laws.


He is now in hiding but scheduled to testify to the Senate's Permanent Subcommittee on Investigations Thursday via a video statement from a secret location, according to Congressional investigators.


Aides for committee chairman Carl Levin (D-MI) are scheduled to provide reporters with a background briefing later this morning in Washington on the committee's investigation of tax haven banks in Liechtenstein and Switzerland.

Aides say the hearing will also focus on the role of the giant Swiss bank UBS and its alleged efforts to help wealthy Americans hide their money from the IRS through shell companies in Liechtenstein.


Liechtenstein's veil of secrecy was pierced five years ago when the disgruntled technician, Kieber, downloaded the names of foreign citizens connected to the secret accounts.


Kieber reportedly sold three CD's full of names and data to tax authorities to 12 countries including Germany, Great Britain, France, Italy and the United States.

Tax authorities in Italy published the full list of names.


In Germany, the disclosures led to the arrests of several prominent CEO's on charges that had evaded millions of dollars in taxes.


A former UBS private banker, Bradley Birkenfeld, has agreed to a plea deal and is reported to be cooperating with US authorities in bring charges against American citizens on tax evasion charges.


The Liechtenstein bank, LGT, is owned by the tiny country's ruling family led by Prince Hans-Adam II.


Kieber's Washington lawyer, Jack Blum, says Kieber should be considered a whistleblower and a hero, not a thief, for revealing how the super rich hid billions of dollars using the Liechtenstein bank.

The names of the US citizens are now in the hands of the IRS and Senate investigators.

Washington lawyers say a number of prominent citizens have been subpoenaed to testify but have already indicated they will refuse to testify, asserting their Fifth Amendment right against self-incrimination.


It is not yet clear whether Senator Levin will insist they appear in front of the committee anyway.
http://abcnews.go.com/Blotter/story?id=5378080&page=1
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  • raves +1   [-] by Marky
    I smell huge prison sentences, at least I hope so. I have never understood how people who have more money than they or their families can spend in a hundred lifetimes continue to want more!!

    But, I am a poor man and understand that all of us want more. At least I know the difference between 'wanting' and 'needing'. And even now, living on SSDI disability benefits, I give money to those who are poorer than me.

    Several years ago, when living in Miami, FL, I passed a homeless beggar on the street. I started to ignore him and walk on by when a thought occurred to me. All of us are Children of God and for me to ignore this one would be a bad reflection on how I see myself. I was near a McDonald's and I went in and bought the man a huge meal. I approached and just handed it to him without saying a word. His big smile was all I needed. Later on, a thought occurred to me. Remember the song, "What If God Was One of Us?" Well I began to wonder, could this be The Christ or other Incarnation, or perhaps and angel in the guise of a poor, smelly homeless person? Think about it. One never knows when a holy person appears to us as repulsive just to test our spiritual credibility.
    Sorry for rambling...

    Marky :o)
  • raves +2   [-] by HairlessKat
    quote, All of us are Children of God and for me to ignore this one would be a bad reflection on how I see myself. ...

    No,, do ramble like that Marky and dont feel bad for sharing your heart.. I saw a video today shared with me by anouther friend on here named Trish.. it was a video of a guy who said, "My holy spirit, my soul chose this body, see the Holy spirit pointing and choosing you.. it chose this body before it took material form"... mabey the begger was Christ in anouther incarnation, or mabey he was just anouther incarnation of the Holy Ghost like the rest of us. That must be it.

    *Bows with love*

    Jenn
  • raves +2   [-] by Marky
    Wow, heavy duty!!! Thanks for sharing this and thanks for allowing me to ramble!! LOL

    Love,
    Marky :o)
  • raves +3   [-] by WannaBeRSC the Contrarian SOB
    This has the chance of becoming VERY interesting.
  • raves +3   [-] by HairlessKat
    LOL dats what I said! Wouldnt it be lovely if they lost all that money payin for their lawyers to get them outta that mess?
  • raves +3   [-] by WannaBeRSC the Contrarian SOB
    Lots of people sweatin bullets right about now.
    I must see these lists,... for personal edification, of course.