New U.S. lawsuit reveals how billionaire alleged to have avoided FATCA while keeping wealth hidden offshore

The U.S. Justice Department last week announced that it had charged a Houston billionaire with having allegedly hid US$2bn from the government overseas, through the use of entities in the names of nominees – thus managing to avoid being flagged up by the Foreign Account Tax Compliance Act, or any other financial transparency programs.

Prosecutors are calling it "the biggest case ever" brought against an American citizen, media reports noted, including the Financial Times. 

  • News

Return to UK for first-ever finance exec convicted under FATCA

Adrian Paul Baron, a United Kingdom national who was the first person anywhere to be convicted of violating the Foreign Account Tax Compliance Act (FATCA) in the U.S., has been flown back to the UK, the U.S. Immigration and Customs Enforcement agency has announced.

  • News
Subscribe to this RSS feed

Opinion

SEAT reminder: 'April 7 is deadline for you to tell Senate Finance C'ttee how well U.S. int'l tax regime works for you'

SEAT reminder: 'April 7 is deadline for you to tell Senate Finance C'ttee how well U.S. int'l tax regime works for you'

As we reported here last week, the U.S. Senate Finance Committee held a hearing last month on “How U.S. International Tax Policy Impacts American Workers, Jobs, and Investment." Many in...

Apr-06-2021