Word: banking
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...great niche businesses. As a private banker at UBS, Birkenfeld traveled from his home in Switzerland to the U.S. to court ultra-wealthy American clients at tennis tournaments and art fairs. He would explain, among other things, how to buy jewels and artwork using funds from their secret Swiss bank accounts while they were overseas. Once, at the request of a client, he bought diamonds with money from an offshore account and smuggled them into the States in a toothpaste tube...
...country's most prominent businessmen, for allegedly evading some $1 million in taxes by funneling money through foundations in Liechtenstein. The German tax cops got the goods on Zumwinkel with their own bit of skulduggery: they bought records stolen by a former employee of the Liechtenstein bank LGT Group, owned by that Alpine nation's royal family. Other tax authorities piled on, including the IRS. In February, the IRS said it was investigating more than 100 Americans with bank accounts in Liechtenstein, a 15-mile-long country sandwiched between Switzerland and Austria, where financial services account...
...that country and at work. In his guilty plea, Birkenfeld said he, Staggl and others helped create sham entities in tax havens like Switzerland, Panama, the British Virgin Islands, Hong Kong and Liechtenstein to conceal the fact that U.S. citizens owned accounts. According to an agreement UBS and other banks signed with the U.S. government in 2001, UBS should have insisted its clients file ownership forms with the IRS but in many cases the bank did not, afraid of losing business from people whose very reason to have offshore accounts is to avoid divulging their identities...
...underline that urgency. In a video to donors on Monday, Obama campaign manager David Plouffe warned that the McCain campaign has outspent Obama 3 to 1 in television ads since April. "So now we face a position where both McCain and the RNC together have $96 million in the bank, almost $100 million," Plouffe said. In some ways, the recent spate of news stories fretting over the state of Obama's fund-raising can only help. After all, the revelation that Clinton had been forced to loan herself $5 million before Super Tuesday spawned a one-day record-breaking online...
...prosecution tried to subvert that claim in advance. "We submit this was a convincing performance and one which obviously required no prompting, let alone coercion, from her husband." Robertson said that the court would see in due course how the couple "worked a complex web of transactions between various bank accounts, making the finances all the more difficult to trace." For Mrs. Darwin's defense to succeed, Mr Robertson said that she must prove that her husband was present at the time each fraudulent offense was committed and show that her husband's pressure was so great that...