From ABC:
“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.”
Allegedly, bank clerk named Heinrich Kieber sold CD ROMs containing names and data to tax authorities to 12 countries including Germany, Great Britain, France, Italy and the United States.
The article goes on to state:
“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.”
This has the potential to scandalize the European banking establishment as UBS bank is linked in the allegations. Senator Carl Levin (D-MI) is calling for the Swiss banking giant to ‘shut down’.
One American thus far has been outed:
“48 year-old Peter Lowy and his family own the giant Westfield shopping center fortune and will control the retail space in the rebuilt World Trade Center in New York. Bob Bennett, a lawyer for Lowy, who is a prominent contributor to both Democratic and Republican candidates, told ABC News that Lowy’s name was on the list of secret accounts from a Liechtenstein bank but that Lowy did nothing wrong.
Bennett said Lowy is out of the country tomorrow and will not be available to testify.”
Its going to be interesting to see which prominent Americans pop up out of this list in the coming weeks…
