Global Investigations Review - The law and practice of international investigations

Tax controversy

Panama Papers “poster child” sentenced to four years

Panama Papers “poster child” sentenced to four years

September 21, 2020, GIR

“I don’t think a non-incarcery sentence is appropriate in any sense here. It can’t be that you can commit so many crimes for such a length of time then turn around and say: ‘I’m 83’,” Manhattan federal district court Judge Richard Berman said at the hearing on Monday.

US calls for “substantial” prison sentence in Panama Papers case

US calls for “substantial” prison sentence in Panama Papers case

July 27, 2020, GIR

Manhattan prosecutors have asked a federal judge to reject a German businessman’s arguments to avoid prison over a tax evasion scheme that was exposed by the Panama Papers data leak.

GDPR prevents US bank data transfer

GDPR prevents US bank data transfer

July 14, 2020, GIR

A Luxembourg court won’t allow a Swiss bank subject to a US international tax investigation to disclose a client’s bank data to US prosecutors.

Former accountant in Panama Papers case hopes to dodge prison time over virus fears

Former accountant in Panama Papers case hopes to dodge prison time over virus fears

July 07, 2020, GIR

The second individual to be convicted in connection with the US Panama Papers investigation has asked the court for a two-year sentence and suggested he should serve his time in home confinement owing to the risk posed by the coronavirus pandemic.

Octogenarian investor bemoans becoming Panama Papers “posterchild”

Octogenarian investor bemoans becoming Panama Papers “posterchild”

July 03, 2020, GIR

Lawyers for the first individual convicted in connection to the Panama Papers say their client has been unfairly linked to the worst crimes uncovered by the infamous data leak.

Ex-Freshfields lawyer indicted in Germany over tax scandal

Ex-Freshfields lawyer indicted in Germany over tax scandal

June 25, 2020, GIR

German prosecutors have charged a second former Freshfields Bruckhaus Deringer tax lawyer in connection to the cum-ex tax evasion scandal.

Germany seeks to extend statute of limitations for serious tax offences

Germany seeks to extend statute of limitations for serious tax offences

June 12, 2020, GIR

A German lawyer has accused the country’s Ministry of Finance of hiding the proposal in covid-19 legislation to protect the tax office from criticism about its crackdown on cum-ex trades.

Kerimov-linked Swiss company signs DPA in France

Kerimov-linked Swiss company signs DPA in France

May 26, 2020, GIR

A Swiss investment company founded by a US-designated Russian oligarch previously targeted in a French money laundering investigation has agreed to a €1.4 million tax evasion settlement in France.

Morgan Stanley ordered to pay €39 million in Dutch cum-ex case

Morgan Stanley ordered to pay €39 million in Dutch cum-ex case

May 14, 2020, GIR

The Dutch subsidiary of US investment bank Morgan Stanley will have to pay €39 million in unpaid taxes following a court ruling in a dividend-stripping case.

No jail time for broker in Fatca case

No jail time for broker in Fatca case

May 05, 2020, GIR

A US federal judge has ordered a former securities broker in the UK to pay $5,400 and sentenced him to three years’ probation for violating US tax law.