Category Archives: Tax avoidance

Ex-UBS banker indicted for tax evasion services

икониThe U.S. Court has indicted former senior UBS private banker for selling offshore tax-evasion services to wealthy Americans. Martin Lack is a Swiss national who until 2003 oversaw UBS’s North America business for wealthy Americans placing their money in hidden … Continue reading

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Indian-American businessman charged of concealing bank accounts in India and BVI

An American businessman of Indian origin, Vaibhav Dahake, has been charged by a federal grand jury of New Jersey of trying to conceal undeclared bank accounts in India and in the jurisdiction of the British Virgin Islands. According to the … Continue reading

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Indian Finance Ministry investigates deals in BVI and other offshore jurisdictions

By the information of the Indian press, the finance ministry of the country has begun its investigation into over 100 offshore “financial structuring deals”, undertaken by Indian business entities in offshore jurisdictions to allegedly avoid taxes or pay close to … Continue reading

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BVI- and Bahamas-based companies’ trustee must pay $25 mln in taxes and penalties

Norman Leighton, the owner of international trust administration business called Leighton & Leighton and based in Monaco, has been ordered by the Federal Court of Australia to pay about US$25 mln of taxes and penalties, on the proceeds of his … Continue reading

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Chairman of bankrupt IT Factory charged with hiding taxes through the BVI company

Tax authority of Denmark has charged Jensby, the former board chairman of bankrupt IT Factory, as well as his wife, with tax evasion. Company’s CEO Stein Bagger fled from authorities in 2008, after it became known that the company received … Continue reading

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U.S. authorities file charges against BVI company

On Tuesday, charges were filed by the state Attorney General’s Office, Pennsilvania, against Brian J. Murray, CEO of the defunct  Murray Insurance Agency and three other persons. They are alleged of insurance pyramid scheme, the accusations against them include criminal … Continue reading

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Italian magnate alleged of tax evasion for BVI-owned yacht

Flavio Briatore, an Italian businessman known as former Renault team principal, is under investigation, being alleged of tax evasion concerning a yacht “Force Blu” rented by him. The yacht is owned by the British Virgin Islands-registered company Autumn Sailing Ltd.; … Continue reading

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Deals with UK’s Portsmouth club investigated by the Premier League

It became known that the Premier League has used corporate investigators to unravel the ownership and control structure of the Portsmouth City Football club. In particular, the League tried to reveal the inside of the transactions in the course of … Continue reading

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Situation with Portsmouth club purchased by Al Faraj’s BVI company remained uncertain

Ali Al Faraj, the owner of the Portsmouth club affected by crisis, had cancelled his plans to appear in the UK for the first time since the takeover which took place in October 2009. The Portsmouth club is challenging the … Continue reading

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The Duke of York criticised for his urge to keep tax loophole for wealthy residents

The Duke of York has provoked crytics and even indignation after he urged the UK Government to preserve a controversial loophole that allows Britain’s wealthy residents to avoid paying millions of pounds in tax each year. Now he is condemned … Continue reading

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