Word: accountability
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Dates: during 1980-1989
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Weld is known to have been particularly concerned about a report that Swiss Financier Bruce Rappaport paid Wallach $150,000 for helping promote the Iraqi pipeline. Senate investigators traced some of that money to an investment account that also held $52,000 of personal savings by Meese. This commingled fund was managed by a Wedtech director, W. Franklyn Chinn, whom Wallach had introduced to Meese. At times Chinn bought more stock in Meese's name than Meese's investment could pay for, and the deals produced a profit of $40,000 for the Attorney General. The arrangement, according...
...money temporarily relieved a financial squeeze that had grown severe since Washington froze some $50 million in Panamanian funds in the U.S last month. To prevent companies from easing Noriega's fiscal woes any further, the Administration belatedly asked U.S. firms to put future payments into an escrow account...
...owed no back taxes and had broken no law. But that did not stop the Internal Revenue Service from seizing $22,000 in Shirley Lojeski's bank account. Lojeski, who breeds Thoroughbred horses in Pipersville, Pa., was unaware that anything was wrong until her checks suddenly started bouncing. Mystified at first, she eventually realized that the IRS had taken her money as a way to get at her boyfriend, Thomas Treadway. The agency had accused Treadway, who ran a trash-management business, of owing $247,000 in back taxes, and suspected that he was stashing his money in Lojeski...
Nancy Seddinger, who runs a real estate business in North Myrtle Beach, S.C., learned last December that her company owed $22,000 in interest and fines. The company accountant contacted the IRS to question the ruling and try to reach some sort of settlement. But in February, with the matter still / unresolved, the agency grabbed the firm's bank account. Seddinger could not meet her payroll and had to halt operations. Her Congressman, Democratic Representative Robin Tallon, later managed to get the bank accounts released, but Seddinger is still jousting with the IRS to clear up what she calls...
...most notorious IRS foul-ups occurred last July, when the agency seized $70.76 in a bank account belonging to nine-year-old Carmin Fisher of Junction City, Ore. The Government was trying to collect part of a delinquent $21,182 bill owed by Carmin's grandfather Charles Fisher. Only after the case got nationwide attention did the IRS back down and return the money, saying it had mistakenly assumed that Carmin's grandmother, who was listed as guardian, owned the account...