Government probes tax shelters used to shield stock-option gains

Article Abstract:

Sam and Charles Wyly, Texas billionaires are being investigated for tax evasion, as they sheltered more than $100 million from taxation through Bank of America Corp. on the Isle of Man. The two brothers are software and retail business entrepreneurs and are being investigated by the United States Securities and Exchange Commission and the United States Internal Revenue Service on possible money-laundering and securities violations.

Isle of Man, Securities fraud, United States. Internal Revenue Service, Bank of America Corp., BAC, Wyly, Sam, Wyly, Charles

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How top Dutch Bank plunged into world of shadowy money

Article Abstract:

ABN AMRO Holding N.V. of the Netherlands is under investigation for money laundering by United States authorities. Billions of dollars were transferred, particularly from small Russian banks, with little scrutiny as to the source. It is estimated more than $70 billion was illegally transferred through the ABN AMRO Holding N.V. New York office.

Netherlands, Economic aspects, ABN AMRO Holding N.V., Money laundering, ABN

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Bank tax shelters are investigated

Article Abstract:

Some major banks in the U.S. have avoided having to pay millions of dollars in state taxes. These banks created investment funds that paid dividends that were tax exempt to their parent firms. The US Securities and Exchange Commission is now investigating these tax shelters.

Other Financial Vehicles, Investors, not elsewhere classified, Taxes, Tax Shelter Investment Svcs NEC, Taxation, Powers and duties, Tax shelters

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