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Tag Archive for Whistleblowers

Tax Court Decision Gives Whistleblowers Additional Reward

In what is being hailed as a landmark decision, the U.S. Tax Court recently sided with a pair of whistleblowers who provided information that assisted the U.S. government in a high-stakes tax evasion investigation. The decision allowed the whistleblowers for the first time to collect a percentage of the taxpayer’s criminal penalties and civil forfeitures, in addition to the unpaid taxes recovered by the IRS.

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Another Offshore Whistle Blower – Former HSBC Employee!

whistle blowWe first posted Whistleblower Exposes Massive Offshore Corruption!  On May 6, 2013 where the enormous value of whistleblowers has once again been demonstrated with the release of an investigation by the International Consortium of Investigative Journalists into off-shore holdings of people and companies in more than 170 countries and territories hiding trillions of dollars in income and assets

The anonymous whistleblower sent to the ICIJ 2.5 million electronic files containing what the organization calls “the biggest stockpile of inside information about the offshore system ever obtained by a media organization.”

Now we have come to discover another whistleblower, an HSBC employee who passed data  a former  to French authorities about the bank’s Swiss arm has supplied a list of nearly 3,000 secret accounts belonging to French residents or entities, hiding up to $5 billion (CHF4.8 billion) in undeclared assets.

The figure was revealed on Wednesday July 10, 2013, in a French parliamentary report. The report also described a variety of legal, technical, diplomatic and procedural issues that began almost as soon as the French tax authorities received five DVDs of data.

The report, explaining why it had taken so long to act on the data, said that there were internal obstacles over the different remits of the tax authorities and the prosecutor’s office, which in 2010 transferred responsibility for the case from the Mediterranean city of Nice to Paris. Read more

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