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1 of 2 – Feds FINALLY are getting serious about TAX CHEATS

via: New York Times

A client of the British bank giant HSBC pleaded guilty on Monday to offshore tax evasion as part of a widening government inquiry of banks that may help tax dodgers.

The case includes as co-conspirators five unidentified bankers, who according to the indictment worked at a large international bank based in Britain.

The defendant, Vaibhav Dahake, admitted in United States District Court in New Jersey to conspiring to conceal accounts in India.

Mr. Dahake is an Indian native who became an American citizen in 2006 and now lives in Somerset, N.J.

The plea comes days after federal prosecutors said that an HSBC unit in India potentially helped thousands of Americans to dodge taxes. Prosecutors are expanding the government’s inquiry of offshore tax evaders and their banks.


The government is requesting authority to serve a “John Doe” summons on the bank to obtain the names of an unknown number of individuals who may have engaged in tax fraud.

Prosecutors used the same John Doe summons strategy in their case against UBS, which ultimately settled government charges against it by paying $780 million and agreeing to hand over the names of nearly 5,000 clients to the United States.


April 13, 2011 - Posted by | deficit reduction | , , ,

1 Comment »

  1. Romney / GOP Job Creators / Contractors – Tax Cheats> Who wants a Tax Cheatin PREZ? @cspanwj @Maddow @Lawrence @joenbc

    Comment by Freelancer | June 15, 2011 | Reply

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