Just like that, the NewmanSalman insider trading saga has come to a close. For now, at least. These cases have generated a good bit of ink on this
On April 7, 2011, the U.S. Department of Justice petitioned the District Court for the Northern District of California to allow the Internal Revenue Service to serve a "John Doe" summons on U.S. affiliates of HSBC Holdings plc, seeking to determine whether U.S. residents are using accounts at the bank's facilities in India to evade U.S. taxes.
The IRS and the Department of Justice have publicized several high profile prosecutions to remind U.S. taxpayers of the risk of failing to report offshore accounts.
DOJ announced "Operation Broken Trust" this week, a sweep focused on investment fund fraud.
Unless you have stopped reading newspapers, watching television or listening to the radio then it is more than likely that you have heard something about the UBS scandal.
Top U.S. officials announced on Tuesday, November 17, 2009, the creation of a new interagency Financial Fraud Enforcement Task Force (the "Task Force") to strengthen efforts to combat financial crimes and other violations related to the financial crisis and economic recovery efforts.
On August 19, 2009, the Internal Revenue Service (IRS) and the Justice Department announced that they had reached an agreement with UBS AG (UBS) regarding the IRS John Doe summons to obtain approximately 4,450 names of U.S. taxpayers with accounts in UBS.