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Recent News and Comments Show U.S. and U.K. Authorities’ Efforts to Get the Information Behind the Panama Papers Scandal

The Panama Papers have captured the public’s and the legal community’s attention, with blockbuster disclosures of the offshore dealings of various prominent persons. The investigation so far has been controlled by a team of journalists from various organizations, who have access to a purpose-built database of an estimated 11 million computer files, and have been […]

Who HMRC May Target With the New Strict Liability Offence of Not Declaring Offshore Income and the Potential for Injustice

On 19th August 2014 HMRC published new consultation documents outlining the Government’s proposals to prevent individuals hiding money offshore to evade tax. The central plank in HMRC’s strategy is introducing a new strict liability offence of having taxable income offshore without declaring it to the authorities.   These consultation documents add flesh to the bones of […]

BNP Paribas and Credit Suisse: Everything’s Negotiable

  On Monday, France’s largest bank, BNP Paribas S.A., agreed to plead guilty in state and federal court to charges brought by the U.S. Department of Justice for violations of the International Emergency Economic Powers Act, and by the New York County District Attorney’s Office for related charges. As part of a settlement with multiple […]

A “Bad Investment” Involving Beanie Babies

Who doesn’t remember the adorable plush toys of the nineties known as Beanie Babies?  To say they were ubiquitous is to understate the plain fact that Beanie Babies were everywhere.  Kids loved them, parents hated them, and collectors thought they would strike it rich when—one day—that Benny the Bull Beanie Baby could be sold to […]