Six years into the government’s latest crackdown on offshore tax evasion, federal prosecutors have yet to win a signature jury trial. Of the 38 persons indicted since 2008, 25 have yet to be tried, so the government has plenty of opportunities to bag the heretofore elusive white whale. Most of these 25 defendants are Swiss nationals, and after recent events, the thoughts of pending offshore tax evasion charges may not exactly be keeping these bankers up at night.
The Raoul Weil saga has been well-chronicled, both in this space and elsewhere, in part because it has a number of object lessons. Fist of all, Big Brother is watching. Mr. Weil was indicted back in 2008. He was living in Switzerland at the time, which will not extradite a person to face financial crimes charges in another jurisdiction. But, Mr. Weil decided to take Read more