Category Archives: Tax fraud

Information about tax fraud.

BVI companies allegedly involved in forex schemes

Close relative of ex-Punjab chief minister was asked to appear before the Enforcement Directorate and bring personal financial documents, in connection with probe against him for alleged forex contraventions and failure to pay taxes for foreign assets. He should explain … Continue reading

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Australian Taxation Office investigates profit shifting to offshore structures

The Australian Taxation Office (ATO), as well as the Australian Government, is concerned about the risks and issues with the country’s tax system, and next year it is planning to focus on profit shifting, tax crime, and the misuse of … Continue reading

Posted in BVI Companies, Investigation, Offshore investment schemes, Offshore tax havens, Revenue Service, Tax avoidance, Tax fraud, Tax planning, Tax Shelters | Leave a comment

ICIJ continues investigation and releases Offshore Leaks Database

The International Consortium of Investigative Journalists (ICIJ), which started in April with the report named “Secrecy for Sale: Inside the Global Offshore Money Maze”, revealing information on more than 120,000 offshore companies and trusts and about 130,000 individuals and agents … Continue reading

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U.S. businessman used offshore bank accounts in BVI for tax evasion scheme

A New Jersey businessman Sanjay Sethi pleaded guilty to using hidden offshore bank accounts in various jurisdictions, including the British Virgin Islands, to defraud the U.S. According to the information filed by the U.S. government in federal district court in … Continue reading

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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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Madoff’s feeder fund tries to recover money

Fairfield Sentry Ltd., one of Madoff’s feeder funds that transferred US$3.2 billion to him, sued a Swiss unit of Bank Morgan Stanley AG. The US fund, which is being liquidated under the supervision of the Commercial Division of the High … 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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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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Australian actor accused of concealing income from BVI offshore companies

In the case of an Australian actor Paul Hogan, who had already been accused of defrauding the tax office by establishing loan scheme with an offshore company GB Film Finance registered in the British Virgin Islands, new allegations appeared against … Continue reading

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