The US authorities have charged six Belize business executives with organizing a scheme to help American citizens evade USD 500 million of taxes and escape their reporting obligations under the Foreign Account Tax Compliance Act. The alleged conspiracy was investigated by using undercover law enforcement agents posing as dishonest clients.
A multi-count indictment was unsealed on September 09, 2014 in federal court in Brooklyn, New York, against six individual defendants and six corporate defendants. The charges include conspiracy to commit securities fraud, tax fraud, and money laundering.
The Individual Defendants include: Read more