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The U.B.S. Case: The U.S. Attack On Swiss Banking Sovereignty, Beckett G. Cantley
The U.B.S. Case: The U.S. Attack On Swiss Banking Sovereignty, Beckett G. Cantley
Beckett G Cantley
On August 1, 2006, the United States Senate’s Permanent Subcommittee on Investigations (“PSI”), a branch of the Committee on Homeland Security and Governmental Affairs, released a report in conjunction with a Senate hearing that revealed alarming statistics regarding wealthy Americans’ love affair with offshore banking. The PSI report was a culmination of the subcommittee’s investigation into tax haven abuses, providing the most detailed look to date of high-level tax schemes. The report revealed such an alarming number of rich Americans are using offshore accounts to evade taxes that law enforcement is unable to control the growing misconduct. Senator Carl Levin …