Skip to comments.Whistleblower Gets $104 Million From IRS
Posted on 09/17/2012 8:42:37 AM PDT by SeekAndFind
An ex-banker and convicted tax cheat who told the IRS how his employer, UBS, helped thousands of wealthy clients duck U.S. taxes has just been awarded $104 million by the U.S. government, a sum his lawyers say is the largest payout ever for a whistleblower.
Bradley Birkenfeld, who was released from federal prison six weeks ago, pleaded guilty in 2008 to helping American clients avoid paying federal income and other taxes to the IRS. As part of his plea, Birkenfeld confessed to helping businessman Igor Olenicoff conceal $200 million in assets and evade paying $7.2 million in taxes.
But while Birkenfeld was confessing his own sins, he also provided testimony that allowed the Justice Department to punish his employer, forcing UBS to admit that it had allowed its clients to evade taxes by hiding their assets offshore. In February 2009, under a deferred prosecution agreement, the company agreed to pay $780 million in criminal fines for offering tax haven accounts for U.S. clients. UBS agreed to release data on almost 5,000 client accounts.
Birkenfeld's lawyers, Stephen M. Kohn and Dean A. Zerbe, of the Washington-based National Whistleblowers Center, said that because of Birkenfeld the IRS has been able to recover $5 billion in revenue from 33,000 U.S. citizens who have voluntarily disclosed their offshore accounts.
"The IRS sent 104 million messages to whistle-blowers around the world -- that there is now a safe and secure way to report tax fraud," said the National Whistleblowers Center in a statement. "The IRS also sent 104 million messages to banks around the world stop enabling tax cheats or you will get caught."
According to Kohn and Zerbe, the $104 million award is the largest award to an individual whistleblower to date, and the first awarded to an IRS whistleblower.
(Excerpt) Read more at news.yahoo.com ...
If you have money overseas beware. Every mid-level clerk and teller will be racing to snitch and cash in.
You don’t remember Linda Tripp getting this kind of payoff?
Maybe she and monica sold the blue dress?
I'm wondering how many of the tax evaders are Democrats.
This guy got his payout because he had good specialist lawyers.
There is a big difference between tax evasion and tax avoidance - one is illegal and the other is not. In fact, an agressive tax avoidance strategy is one of the conerstones of building wealth. But our Federal overlords do not want us building wealth, hence their propagandists in the gubmint-run State Media publish junk like this article that makes it appear as if avoiding taxes is a crime, and being a snitch is admirable (and profitable, apparently).
And the rubes swallow it all, hook, line, & sinker...
Living proof that even leeches have ticks.