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Friday, February 20, 2009

Virgin Islands group denies Stanford tax break

by taxnick on February 20, 2009

A U.S. Virgin Islands economic development group on Friday said it was barring Robert Allen Stanford from a tax incentive program it had previously granted Stanford’s company to build a sprawling corporate campus on St. Croix, according to a Reuters report.
The Virgin Islands Economic Development Authority joins other financial regulators in the United States, the [...]

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UBS Revealed Far Less Than U.S. Sought in Tax Case

by taxnick on February 20, 2009

One day after the Justice Department claimed to have struck a blow against Swiss bank secrecy, it became clear yesterday how limited that blow was and how much a $780 million fraud settlement with Switzerland’s largest bank left unresolved.
On Wednesday, the department announced that the Swiss banking giant UBS would immediately give up the names [...]

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